Singapore’s manufacturing output dips 3.6% in July 2016
Blame it on output declines in almost all clusters.
Singapore’s total manufacturing performance in July 2016 slipped 3.6% largely due to falloffs in almost all of industrial clusters. On a seasonally adjusted month-on-month basis, output went down 4.0%.
According to the city-state’s Economic Development Board, the transport engineering cluster shrank the most, 21.8% YoY in July 2016. This was the result of a weak marine and offshore engineering segment in which rig-building activities and demand for oilfield and gasfield equipment remained anemic amidst the low oil price environment. The cluster’s output sank 33.4% in the month under review. Aerospace and land transport segments also dropped 2.3% and 2.6% respectively.
General manufacturing industries cluster’s output recorded the next biggest contraction at 10.2% YoY. It was followed by biomedical manufacturing that plunged 9.7% mainly because of a 14.1% decrease in pharmaceuticals segment.
Precision engineering and chemical clusters also dipped 4.9% and 3.2% respectively, while the electronics cluster’s output was the only gainer ending 16.2% higher than in July 2015.
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