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Monthly Manufacturing Performance – October 2007 |
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Manufacturing output slightly up in October
(I) Total Manufacturing Performance
- Manufacturing output grew slightly by 0.9% year-on-year in October. The growth of the sector was affected by the contraction in the biomedical manufacturing cluster. The three-month moving average index for October rose 3.5%. However, the seasonally adjusted month-on-month index for October was 3.0% below that of September. For the first ten months of 2007, total manufacturing output grew 6.9% compared to the same period in 2006.
(II) Performance by cluster
- Output for the chemicals cluster increased 8.4% year-on-year in October. Higher output came from all segments. The production of petroleum products was higher than the same month a year ago by 10.5%. This was due partly to low output last October when some refinery plants had maintenance shutdowns. The petrochemicals segment grew 1.8%. The growth of 14.5% in the specialities chemicals segment came from higher production of epoxy compounds, industrial acids, adhesives and mineral oil additives. For the first ten months of this year, cumulative output of the chemicals cluster grew 3.3% compared to the same period last year.
- The transport engineering cluster grew 5.8% year-on-year in October. The land transport segment grew a substantial 49.1%, boosted by higher domestic and overseas demand for land vehicle components. The marine & offshore segment grew 4.9%. This lower year-on-year growth was due to fewer completed stages in shipbuilding, repairing and conversion projects. Output of the aerospace segment rose 4.6%, sustained by buoyant demand for the repair of commercial aircraft. Cumulatively, the cluster grew 21.9% in the first ten months of 2007 compared to the first ten months last year.
- The electronics cluster grew 5.7% in October despite the contraction in the computer peripherals segment. The production of semiconductors rose 10.3% as manufacturers continued to increase output of chips for telecommunication and consumer products. The infocomms & consumer electronics segment grew 7.0% with higher production of computers and consumer electronic products. The electronics modules & components segment also grew 7.0%. The growth for data storage products was 2.9%. For the first ten months of 2007, output of the electronics cluster was 2.2% higher compared to the first ten months of 2006.
- The precision engineering cluster grew 2.8% in October. The machinery & systems segment grew 8.3% with increased production of semiconductor equipment, lifting/hoisting machinery, transformers and switchboards and switchgears. The precision modules & components segment contracted by 0.6%. Cumulatively, the cluster shrank marginally by 0.3% in the first ten months this year compared to the first ten months of 2006.
- The biomedical manufacturing cluster shrank 15.3% in October. This came from the contraction of 19.5% in the pharmaceuticals segment. A different composition mix of active pharmaceutical ingredients accounted for the decline compared to last October. In contrast, the medical technology segment grew 25.8% with increased production of medical devices to meet export demand. Cumulatively, the cluster’s output grew 8.7% in the first ten months of 2007 compared to the same months in 2006.
- Output of the general manufacturing industries increased 5.9% over October last year. The production of food, beverages and tobacco products went up 10.1%. The printing industries also up output by 4.4%. Cumulatively, output of this group of industries rose 7.5% over the first ten months of 2006.
- The Monthly Index is available from the Research & Statistics Unit of the Economic Development Board. For further information, please contact Miss Kok Yit Hoe (Tel: 6832 6741/Handphone: 9841 6281 / Fax - 68326493 / email yithoe@ edb.gov.sg)
- The next monthly manufacturing performance media release will be issued on 26th December 2007.
COMMUNICATIONS
CORPORATE DEVELOPMENT DIVISION
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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:6832-6377/
Handphone: 91734977 Email:Juliana_tan@edb.gov.sg)
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