SINGAPORE, Feb 26 (The Straits Times/ANN): Singapore manufacturing output rose 3.4 per cent year on year in January, compared to the 3.7 per cent drop in the previous month, according to figures released by the Economic Development Board (EDB) on Wednesday (Feb 26).
Excluding biomedical manufacturing, output fell 3.8 per cent last month.
The latest figures, with or without the biomedical segment's contribution, were better than the 5.8 per cent year on year contraction analysts had predicted in a Bloomberg poll.
On a seasonally adjusted month on month basis, overall manufacturing output increased 18.2 per cent, while excluding biomedical production the expansion was 11.8 per cent.
The biomedical sector's 41.1 per cent year on year growth in January was lifted by pharmaceuticals output that surged 59.4 per cent.
The jump in growth was on the back of a different mix of active pharmaceutical ingredients being produced and higher production of biological products.
Output of the medical technology segment fell 5.3%.
Electronics output decreased 7.2 per cent from a year ago in January. The sector that accounts for over a quarter of Singapore's factory production had managed a 1.1 gain in December, recovering from a 19.1 per cent slide in November.
January's decline in electronics was spread over most segments within the sector, expect for infocomms & consumer electronics that grew 17.7 per cent.
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