Singapore's manufacturing output for April rose 4.6% on-year: EDB
In latest figures from Economic Development Board, Singapore's manufacturing output rose 4.6 per cent in April compared to the same period a year ago.
Although the figure is down from the strong growth of 12.1 per cent in March, it's in line with analysts' expectations of 5 per cent growth.
That's because they say the strong showing in March was boosted sharply by the one-off delivery of oil bunkers in the offshore marine engineering cluster which spiked 45 per cent.
April's growth was led by the biomedical manufacturing cluster, which rose 23.8 per cent on-year.
The higher production of active pharmaceutical ingredients saw the pharmaceuticals segment grow 26.5 per cent.
The chemicals cluster also expanded boosted by the petrochemicals segment's growth of 19.2 per cent as plants continued to ramp up production.
The precision engineering cluster rose 4.2 per cent with the machinery and systems segment posting growth of 13.5 per cent due to higher demand for lifts and escalators among others.
The transport engineering cluster also grew, boosted by the land transport segment's growth of 11.7 per cent.
But the electronics cluster fell 8.8 per cent, due to contraction in the semi-conductors segment.
Excluding biomedical manufacturing, output would have dropped 0.7 per cent on-year.
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