Manufacturing output rebounds with 4.3% growth in October

Transport engineering led the growth as output increased by 30.8%.

Manufacturing output in Singapore saw an expansion of 4.3% YoY in October after a 0.2% YoY contraction in September. The sector’s output inched up 2% on a seasonally adjusted MoM basis, the Economic Development Board (EDB) revealed.

According to the announcement, transport engineering saw the biggest output expansion with a growth rate of 30.8% YoY as all of its segment approached an increase in output. The marine & offshore engineering segment’s output skyrocketed 52.2% backed by the low base from October 17 paired with higher level of work done in offshore projects.

Meanwhile, its aerospace segment saw an output increase of 15.6% fueled by more engine repair and maintenance work from commercial airlines. EDB noted that the transport engineering cluster expanded by 14% in October YTD compared to last year.

For the biomedical manufacturign cluster, output recorded a growth rate of 11.5% YoY with the pharmaceuticals segment leading the expansion through its growth of 15.8% amidst higher production of pharmaceutical and biological products. The medical technology segment was also boosted by an expansion of 2.9% to meet export demand from the US.
EDB noted that the cluster saw a 5.8% output increase YTD in October compared to the same period in 2017.

Output in precision engineering expanded 1.4% YoY led by the 7.7% growth in precision modules & components segment due to higher production in optical instruments. On the other hand, machinery & systems segment fell 2.9% amidst lower production of industrial process control and semiconductor equipment.

The cluster sealed a 7% growth in output YTD in October when compared to the same period in 2017.

In general manufacturing, output saw an increase of 1.3% YoY. The miscellaneous industries segment grew 2.9%, on account of higher production in structural metal products and batteries.

EDB noted that the food, beverages & tobacco segment rose 2.1% backed by higher output in infant milk and dairy products. However, the cluster’s growth was moderated by the printing segment which declined 6.9%.

The cluster’s October YTD growth was recorded at 0.6%.

Meanwhile, the chemical segment’s output contracted 1% YoY, dragged by the decrease in the petroleum and petrochemicals’ production by 9.6% and 14.7%. Despite this, other chemicals segment’s output expanded 15.1% backed by higher output in fragrances.

In the first ten months of 2018, output of the chemicals cluster increased 5.6% compared to the same period in 2017.

For electronics, output fell 2.7% YoY as majority of its clusters contracted its output except for other electronic modules & components and infocomms & consumer electronics where output grew 5.1% and 1.7% respectively. Cumulatively, the electronics cluster’s output increased 8.9% from January to October in 2018 compared to a year ago.