|
|
|
|
|
|
 |
 |
Monthly manufacturing performance - October 2002 |
|
| |
26 November 2002
(I) Total Manufacturing Performance
- Based on the seasonally adjusted (SA) month-on-month growth, manufacturing output edged up by 1.3% in October over September. On a year-on-year basis, output grew by 11.8%. Increased output was posted by all major clusters but with weaker growth seen in the biomedical sciences and engineering clusters. On a three-month moving average (3MMA) basis, output grew by 12.9% over October 2001. Cumulatively, manufacturing output increased by 8.0% in the first ten months this year compared to last year's same period.
(II) Performance by cluster
- Output of the electronics cluster increased by 22.0% this October compared to a year ago. This year-on-year growth was due partly to low output base in October 2001. As for the seasonally adjusted month-on-month growth for October, output increased by 3.8% from September. The increase of 49.6% in output of semiconductors was due partly to low output level last October. More chips were produced for wireless products. The infocomms products segment grew by 25.0% with higher output of PCs, printers, cartridges and consumer electronics while production of telecommunication equipment lagged behind last October. Demand for printers continued to come from the Asia Pacific region. Output of data storage products grew by 5.4% as demand for disk drives from US remained soft. For the first ten months this year, the electronics cluster recorded a cumulative increase of 2.3% compared to the same period last year.
- Output in the chemicals cluster grew by 15.8% year-on-year in October with expansions in all its major segments. The petrochemicals segment maintained a steady growth of 22.2% despite maintenance shutdowns in some plants in October. Newly operating plants enabled production of a wider range of petrochemical products. The petroleum industry grew by 13.3% as refineries operated with better margins. Prices of petroleum products were higher than in October 2001. The production of industrial/specialty chemicals increased by 9.0% to meet more orders from China, ASEAN countries and Korea. For the first ten months this year, the chemicals cluster recorded a cumulative growth of 11.1% on the strength of the petrochemicals and industrial/specialty segments.
- The biomedical sciences (BMS) cluster continued to grow in October but at a lower rate of 7.7%. Both the pharmaceuticals and medical technology segments decelerated in their production levels. Arising from maintenance shutdowns in some plants and a different product-mix from that of October last year, the output of pharmaceuticals grew by 7.7%. The medical technology segment grew by 7.8%, lower than growths in September. This was due partly to the relatively high output in October 2001 to meet some export orders for medical devices and instruments. For the first ten months of 2002, cumulative output of the BMS cluster grew by 51.1% over the same period last year.
- The engineering cluster slowed down its growth to 3.8% for October year-on-year. The decline in the process engineering sub-cluster offset the expansions in the transport and precision engineering sub-clusters. Cumulatively, the engineering cluster grew by 2.9% in the first ten months of this year.
- The transport engineering sub-cluster grew by 8.8% in October due primarily to its aerospace segment. More aviation repairs were completed for US commercial aircraft even though there was negative impact on the aviation business due to terrorism threat in US. In contrast, the marine segment declined in its October output. This was partly due to the high level of ship repairing and conversion work done in last October. Local shipyards were still working on existing ship construction and repair projects. Cumulatively, the entire segment grew by 11.6% in the first ten months of this year.
- The precision engineering sub-cluster grew by 7.4% in October. Weak demand led to a contraction in output of precision components and electroplating of products. On the other hand, there was higher production of lead frames, metal stampings and springs. For the first ten months this year, output went up by a mere 1.4% compared to the same period in 2001.
- The process engineering sub-cluster declined by 6.4% year-on-year in October. Production of oilfield equipment and industrial process equipment contracted due to less overseas orders. Consecutive declines in production led to a cumulative contraction of 4.7% in the first ten months of this year compared to same period last year.
~~~~~~~~~~~~~~~~~~~~~
Editors' Note: Updates on Monthly Manufacturing Output are available on
http://www.gov.sg/sprinter and http://www.sedb.com
For media enquiries, please contact Ms Valerie Tay (Tel: 6832-6789/ hdph: 9685-2434/ Email: valeriet@edb.gov.sg)
The monthly index is available from the Research & Statistics Unit of the Economic Development Board. For further information on this, please contact Miss Kok Yit Hoe (Tel: 6832-6741 / Fax: 6336-1365 / Email: yithoe@edb.gov.sg).
MARKETING COMMUNICATIONS
CORPORATE SERVICES DIVISION
|
| |
|
|
|
|
|
|
|
|
