Manufacturing output slipped 9.1%

Blame it on electronics cluster hitting the largest drop of 5.8%.

According to data released by Economic Development Board, on a year-on-year basis, manufacturing output grew 1.9% in July 2012. Excluding biomedical manufacturing, output fell 0.4%. On a three-month moving average basis, manufacturing output increased 5.6% in July 2012, compared to a year ago. On a seasonally adjusted month-on-month basis, manufacturing output declined 9.1% in July 2012. Excluding biomedical manufacturing, output fell 4.2%.

Here's more from EDB:

Output of the biomedical manufacturing cluster expanded 13.4% on a year-on-year basis in July 2012. Both segments recorded higher output, with the medical technology and pharmaceuticals segments growing 14.5% and 13.2%, respectively. On a year-to-date basis, output of the biomedical manufacturing cluster was 20.8% higher, compared to the same period a year ago. 

The precision engineering cluster increased 6.7% year-on-year in July 2012. Growth was contributed by the machinery & systems segment, which expanded 13.3% on the back of healthy demand for process control equipment and semiconductor related equipment. The precision modules & components segment fell by 0.4%. On a year-to-date basis, output of the precision engineering cluster grew 1.4%, compared to the same period a year ago. 

The transport engineering cluster grew 5.5% on a year-on-year basis in July 2012. The aerospace segment rose 7.0%, while the marine & offshore engineering segment grew 5.9% due to higher output from rig building activities and the production of oilfield equipment components. Output of the transport engineering cluster in the first seven months of 2012 increased 19.8%, compared to the same period in 2011. 

Output of the general manufacturing cluster increased 1.3% in July 2012 compared to the same period a year ago. The miscellaneous segment's output grew 5.4%, owing to higher production of furniture and construction related products. Output of the food, beverages & tobacco segment expanded 4.9%, supported by higher export demand for beverage products. On the other hand, the printing segment declined 12.2%. On a year-to-date basis, the general manufacturing cluster’s output grew 2.4%, compared to the same period last year.

The chemicals cluster fell 2.5% year-on-year in July 2012. The other chemicals segment grew 4.0% on the back of higher production of fragrances while the petrochemical segment increased 1.9%, supported by higher output in polymers. The petroleum segment contracted 9.3%, mainly due to plant shutdowns for maintenance. On a year-to-date basis, chemicals output declined 4.4%, compared to the same period a year ago.

The electronics cluster remained weak, with output declining 5.8% in July 2012 compared to a year ago. Output of the infocomms & consumer electronics segment grew 10.6%, but this was offset by declines in the other segments. The computer peripherals segment declined 1.1% on account of lower production of printed circuit boards, while the data storage segment fell 7.0%. The semiconductors segment contracted 9.8% due to weak export demand. Cumulatively, output of the cluster in the first seven months of 2012 fell 12.6%, compared to the same period in 2011.