Manufacturing output down 6.9% in June

The electronics and transport engineering segments led the decline.

Singapore’s manufacturing output fell 6.9% YoY in June, extending the 2.4% decline witnessed in May, data from the Economic Development Board (EDB) revealed.

Excluding biomedical manufacturing, output dropped 9.9% and fell 3.1% on a three-month moving average basis.

The electronics segment continued to report the worst performance, with output contracting 18.8% YoY in June. All segments, except the data storage segment, recorded lower production. Cumulatively, the electronics cluster’s output fell 6.9% YoY in H1 2019.

Transport engineering output also fell 14.2% YoY in June. The land transport and aerospace segments grew 15.3% and 7.3%, respectively, with the latter registering more repair and maintenance jobs from commercial airlines. On the other hand, the marine & offshore engineering segment shrank 33.3%, on account of lower levels of offshore and shipbuilding & repairing activities. Overall, the transport engineering cluster fell 0.6% YoY in H1.

Meanwhile, chemicals output dipped 3.3% YoY in June. The petrochemicals segment’s 12.3% decline due to maintenance shutdowns in some plants more than offset the growth recorded in the other chemicals, petroleum and specialties segments, which increased 3%, 2.4% and 0.4%, respectively. Output of the chemicals cluster slipped 0.1% YoY in H1.

On the other hand, general manufacturing witnessed the strongest performance, with output jumping 10.8% YoY. The food, beverages & tobacco segment expanded 22.2% on account of higher output in beverage products, whilst the miscellaneous industries segment rose 0.9%. By contrast, printing output declined 14.8%. On a YTD basis, the general manufacturing industries cluster grew 4.3% YoY.

As well, biomedical manufacturing output increased 5% YoY in June. Pharmaceuticals output grew 5.3%, supported by higher output of biological products, whilst the medical technology segment rose 4.2%, on the back of higher export demand for medical devices. YTD, the biomedical manufacturing cluster increased 9.6% YoY

Precision engineering output also edged up 0.3% YoY in June. The machinery & systems segment grew 3.3%, on account of higher output in semiconductor foundry equipment and refrigeration systems. On the other hand, the precision modules & components segment recorded lower production of metal precision products and dies, moulds, tools, jigs & fixtures. Overall, the precision engineering cluster fell 8.3% in H1.

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