Singapore's manufacturing output sees 7.4 per cent growth in October after year-long slump

Singapore's factory output snaps year-long slump with 7.4% rise in October. - Photo from The Straits Times/ANN

SINGAPORE (Xinhua): Singapore's manufacturing output increased 7.4 per cent on a year-on-year basis in October after a year-long slump, according to data by the Economic Development Board of Singapore.

Excluding biomedical manufacturing, output increased 7.3 per cent.

On a seasonally adjusted month-on-month basis, manufacturing output grew 9.8 per cent in October. Excluding biomedical manufacturing, output grew 4.4 per cent.

On a three-month moving average basis, manufacturing output decreased 2.1 per cent in October, compared to a year ago.

Electronics output expanded 14.8 per cent in October, mainly led by the semiconductors segment which grew 17.8 percent.

Transport engineering output increased 12.0 per cent in October.

The marine and offshore engineering segment expanded 20.2 per cent, supported by a higher level of activity in shipyards as well as increased production in oil and gas field equipment.

Biomedical manufacturing output grew 5.1 per cent in October compared to a year ago. The medical technology segment expanded 8.2 per cent with higher export demand for medical devices. - Xinhua