Manufacturing output continues to rise

SINGAPORE — Manufacturing output in April was slightly higher than expected as the electronics segment continued its double-digit growth, offsetting a decline in the biomedical manufacturing sector.

Last month's factory output rose 6.7 per cent year-on-year, but eased from the revised 11 per cent growth in March, data from the Economic Development Board (EDB) released on Friday (May 26) showed.

Economists in a Reuters poll had expected a 6.4-per-cent increase. Excluding biomedical manufacturing, output grew 15.5 per cent.

Despite the overall expansion, the increase in output was not broad-based. Only two out of six - electronics and precision engineering - segments saw growth last month. Output from biomedical manufacturing, chemicals, transport engineering and general manufacturing products fell.

The electronics segment which makes up almost one-third of total manufacturing output rose 48 per cent in April, compared with 38.6 per cent in March. This was led by growth in semiconductors, computer peripherals, infocomms & consumer electronics and other electronic modules & components.

The precision engineering segment rose 15.7 per cent last month, up from 16 per cent the previous month, with growth from machinery & systems and precision modules & components. Output from the biomedical manufacturing segment shrank 23.3 per cent, led by declines in pharmaceuticals. The chemicals, transport engineering and general manufacturing segments also posted declines - down by 1.8 per cent, 14.5 per cent, and 11 per cent, respectively.