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Chart of the Day: How does the January manufacturing output compare with the previous month?
It eased up to a 2.2% growth.
After surprising with a 21.3% uptick in December, Singapore's Singapore's manufacturing output eased to 2.2% growth in January due to the contraction in biomed and general manufacturing.
On a three-month moving average basis, manufacturing output rose 12.0% in January 2017, compared to a year ago. On a seasonally adjusted month-on-month basis, manufacturing output decreased 6.0% in January 2017 compared to December 2016. Excluding biomedical manufacturing, output fell 1.5%.
The biomedical manufacturing cluster’s output declined 13.5% in January 2017, compared to the same period a year ago. The medical technology segment increased 5.7% while the pharmaceuticals segment declined 18.3%. The decline in the latter was due to a different mix of active pharmaceutical ingredients produced and lower output of biological products.
The general manufacturing industries cluster’s output decreased 13.8% in January 2017 on a year-on-year basis, with all segments registering declines. The food, beverages & tobacco segment contracted 10.8% due in part to fewer production days in January as a result of Chinese New Year. The miscellaneous industries segment fell 14.3%, largely led by lower production of construction-related materials such as metal doors, windows, grilles & gratings. Weak demand in commercial printing also led to a 22.7% decline in printing output.
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