Singapore factory output surprises with 3.4% rise in January


A view of low-rise industrial buildings in Singapore on Jan 14, 2020.-ST PHOTO: ALPHONSUS CHERN

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.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

   

Did you find this article insightful?

Yes
No

Next In Regional

Dating apps see matches bloom in India
He and his young accomplices hunted women on social media – the ‘sextortion’ ring case roiling South Korea
Covid-19: Cases up by 935, bringing total to 60,752 (updated daily)
China’s ‘wild era’ of Internet may be ending as new personal data protection law seeks to curb Big Tech’s control over user data
WeRide robotaxis gain loyal passengers but fixed pick-up, drop-off spots irk some, survey shows
China demands India rescind app ban
China says no ‘money worship’ in online shopping, live shows
Work from home revolution is a surprise boon for India’s women
Surveillance in China: artist who hides from security cameras in Beijing wants to highlight invasions of privacy
China ready to work with other countries to build global cyberspace community, Xi says

Stories You'll Enjoy