Singapore manufacturing output slows to 3.4% in September

Growth eased from 15.4% in August as biomedical manufacturing contracted.

Singapore's manufacturing output grew 3.4% year-on-year (YoY) in September, slowing from a 15.4% increase in August, according to data from the Economic Development Board (EDB).

Excluding biomedical manufacturing, output rose 9%, compared with 16.8% in the previous month.

Biomedical manufacturing recorded the steepest decline amongst the six manufacturing clusters, contracting 32.8% YoY, reversing a 2.3% increase in August.

Pharmaceuticals output plunged 65.9% due to a different mix of active pharmaceutical ingredients being produced, whilst medical technology output fell 1.7% amid softer export demand.

On a seasonally adjusted month-on-month basis, overall manufacturing output declined 3.9% in September. Excluding biomedical manufacturing, output fell 5.5%.

Four of the six manufacturing clusters recorded YoY growth, led by precision engineering, which expanded 31%.

The increase was attributed to higher production of semiconductor equipment in the machinery and systems segment. Output of industrial rubber goods, precision metal products, and tools and moulds also rose.

Transport engineering grew 10.6%, supported by higher aircraft parts production and sustained maintenance, repair, and overhaul activities from commercial airlines.

However, the sector's growth was partly offset by lower shipyard activity and production of oil and gas field equipment.

Electronics output increased 5.7%, easing from 28.3% growth in August. EDB attributed the expansion across most electronics segments to strong demand related to artificial intelligence.

Within the cluster, infocomms and consumer electronics climbed 29%, whilst computer peripherals and data storage rose 21.3%. Semiconductor output edged up 1.9%.

General manufacturing industries expanded 4%, supported by higher production of beverages, dairy products, animal feeds, and commercial printing.

Meanwhile, chemicals output declined 4.6%, weighed down by lower fragrances production and continued weakness in petrochemicals.

EDB said petrochemical production remained constrained by softer demand and disruptions to feedstock supply.

For the first nine months, overall manufacturing output increased 9.8% YoY. Excluding biomedical manufacturing, output grew 13.4%.

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