Manufacturing: There's hope yet

MANUFACTURING   ECONOMIC OUTPUT   EDB

Singapore - There is good news for the manufacturing sector, as reports found output had risen year-on-year, despite a rough start to 2012.

According to a report by the Singapore Economic Development Board (EDB), manufacturing output grew 7.6% in June this year.

Most sectors, including biomedical and pharmaceuticals, saw a higher output year-on-year of 54.4% and 68.7% respectively. Transport engineering saw a 7.6% growth, while marine and offshore engineering rose 8.1%. Aerospace saw the lowest growth of 4.4%.

In the general manufacturing cluster, output increased by 0.6% in June 2012.

However, the precision engineering, electronics and chemicals segments saw a decline of 3.4%, 4.5% and 5.7% respectively. Nevertheless, the decrease in these three sectors was offset by the overall growth in other segments.

The manufacturing sector had seen its economic output fluctuate in the last year. In December, output rose 12% to exceed economic expectations despite the Europe crisis. Yet in the following month, the sector witnessed an 8.8% decline. In February, the sector experienced a slow 12.1%, falling short of its predicted 16% growth. ______________________________________________________________________________

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