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Monthly Manufacturing Performance – November 2007 |
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Manufacturing output slowed down in November
(I) Total Manufacturing Performance
- Manufacturing output contracted 1.5% in November compared to November last year as the expansion in some clusters was offset by contraction in others. The expansions came from the transport engineering, electronics and chemicals cluster while the biomedical manufacturing, precision engineering and general manufacturing industries cluster contracted. The three-month moving average index for November declined 0.7%. The seasonally adjusted month-on-month index for November was up 5.8% from October. Cumulatively, manufacturing output for the first eleven months of 2007 was 6.0% higher than the output recorded in the same period last year.
(II) Performance by cluster
- Output of the transport engineering cluster rose 31.9% year-on-year in November. This was due primarily to the 53.5% growth in the marine & offshore engineering segment. Shipyards continued to be occupied with existing contracts for ship repairing, shipbuilding, ship conversion and fabrication of oil rigs. Some vessels were due for completion in the first half of next year. However, the aerospace and land transport segments contracted at 1.5% and 4.0% respectively. For the first eleven months of 2007, the cluster recorded a cumulative growth of 23.1% compared to the same period in 2006.
- The electronics cluster continued its fourth consecutive year-on-year growth in November. Output grew by 5.3% with higher output from four out of five segments. The semiconductors segment grew 16.7%, sustained by export demand. The production of other electronic modules & components rose 7.4% followed by a 3.6% increase in output of infocomms & consumer electronics. The data storage segment grew 1.1% with higher production of disk media. As for the computer peripherals segment, it shrank 24.8% due to lower output of printers and related printer supplies. Cumulatively, output in the first eleven months this year grew 2.8% in 2007 compared to output in the same period last year.
- The chemicals cluster grew 3.4% in November 2007 despite interruptions to normal operations in some chemical plants. The output of petroleum products increased 0.4%, relatively unaffected by maintenance shutdowns in some refinery plants. The output of petrochemicals and specialties chemicals increased 6.6% and 9.2% respectively. Cumulatively, output of the cluster in the first eleven months of 2007 was 3.2% higher than in the same period in 2006.
- Output of the precision engineering cluster dipped 0.3% year-on-year in November. The contraction of 7.4% in the precision modules & components segment offset the gain of 10.5% in production of machinery & systems. For the first eleven months of 2007, the cluster contracted 0.3% compared to the same period last year.
- The biomedical manufacturing cluster contracted 33.4% year-on-year in November. Output of the pharmaceuticals segment declined 35.6% as some active pharmaceutical ingredients were not produced. Lower demand from Europe and the US led to a decline of 15.0% in output of medical technology products. For the first eleven months of 2007, the cluster’s output grew 3.0% compared to the same period last year.
- The general manufacturing industries contracted 0.2% in November. The output of food, beverages and tobacco products grew 6.1% while printing industries grew 3.9%. However, these increases were offset by the contraction of 6.0% from the miscellaneous manufacturing industries. For the first eleven months of 2007, this group of industries grew 6.8% compared to the same period last year.
- The Monthly Index is available from the Research & Statistics Unit of the Economic Development Board. For further information, please contact Miss Kok Yit Hoe by tel - 6832 6741 / fax - 68326493 / email yithoe@edb.gov.sg
- The next monthly manufacturing performance media release will be issued on 25th January 2008.
Editors’ Note: Updates on Monthly Manufacturing Output are available on http://www.sprinter.gov.sg and http://www.sedb.com
For media enquiries, please contact Ms Juliana Tan (Tel: 68326377/ Handphone: 91734977/ Email: Juliana_tan@edb.gov.sg)
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