Singapore Manufacturing Posts Robust Growth In August

Sep 26, 2007 - Singapore's manufacturing output grew 13.8% on an annual basis in August, the Economic Development Board, EDB, said Wednesday. Economists were looking for a growth of 15%. Factory output growth in August was slower than the 22.1% jump in manufacturing output in the previous month. Manufacturing growth in July was initially estimated at 21.6%.

Manufacturing output slumped a seasonally adjusted 13.7% month-on-month in August, after soaring 25.5% in the preceding month. Manufacturing output climbed 9.3% annually in the first eight months of the year. The three-month moving average index for manufacturing output expanded 8.7%.

The bio-medical cluster output soared 49.4% in annual terms in August. Production in the pharmaceutical segment surged 52.6%, buoyed by production of higher value added pharmaceutical ingredients. Medical technology output climbed 28.6% led by export demand. Pharmaceutical exports jumped an astonishing 105.8% in August.

The transport engineering cluster production gained 19.5% on an annual basis in August. Output of local shipyards shot up 36.6%, pushed by completion of prior contracts for shipbuilding, ship repairing and production of oilrigs. The land transport segment expanded 25.7%. In contrast, the aerospace segment declined 5.2%, due to base year effects, the EDB said.

The chemicals cluster production advanced 6.4% year-on-year in August, buoyed by the 27.7% annual surge in production of petrochemicals, mainly due to base year effects, the EDB noted. Production of petroleum products gained 1.5%.

The electronics cluster grew 5.6% annually in August. Production of semiconductors increased 8.6%, while the data storage segment advanced 5% reversing the prior month's decline in output. The infocomms and consumer electronics segment expanded 7.6% propelled by higher production of mobile products and PCs.

The precision engineering cluster eased an annual 4% in August, pulled down by the 7.4% decline in precision modules and components. This was partially offset by the 1.3% growth in machinery and systems sector.

Output of the general manufacturing industries expanded at an annual rate of 7.8% in August. Production of food, beverages and tobacco products jumped 9%, while output of printed products rose 4.8%.