All segments of the electronics sector showed modest growth except for information-communications and consumer electronics products, which slumped by 60.8 per cent, the EDB said. It cited 'continued relocation of mobile device production' for that decline. -- ST FILE PHOTO
SINGAPORE'S manufacturing output fell 12.2 per cent in August, more than economists expected, with the volatile pharmaceutical sector weighing heavily, official figures showed on Friday.
Analysts polled by Dow Jones Newswires had forecast a median 8.7 per cent contraction for the month, compared with the same period a year earlier.
The preliminary figures for August followed a decline of 21.5 per cent in July and a 3.0 per cent gain in June, data from the Economic Development Board (EDB) showed.
The biomedical manufacturing cluster showed the biggest decline in August.
It was down 33.8 per cent overall, led by pharmaceutical output which dropped 35.7 per cent compared with the same month last year, the EDB said. It blamed the fall on a different mix of ingredients that was produced last month.
Medical technology production fell 6.8 per cent, it added.
All segments of the electronics sector showed modest growth except for information-communications and consumer electronics products, which slumped by 60.8 per cent, the EDB said. It cited 'continued relocation of mobile device production' for that decline.
Overall, electronics output in August fell 7.1 per cent.
In the chemicals cluster, output was down by 6.0 per cent last month.
'There were maintenance shutdowns in the petroleum and petrochemicals segments, resulting in a drop in output of 3.2 per cent and 15.2 per cent respectively,' the EDB said.
Transport engineering held steady, up 0.1 per cent in August. The EDB said growth was largely confined to the aerospace segment which was up 13.9 per cent because of more engine and commercial repairs from the region.
The marine and offshore engineering segment, which includes oil rig production and ship repair, was off 8.6 per cent last month, the EDB said.
Cumulative manufacturing output for the first eight months of this year shrank 2.0 percent compared with the same period last year, it said.
On a seasonally adjusted month-on-month basis, output dropped by 1.9 per cent in August from July.
Singapore's open, trade-driven economy has been hurt by slowing global demand, and DBS Group Research said the latest output data 'should provide a clue as to whether Singapore will enter into a technical recession'. -- AFP
