Check out the biggest losing cluster.
The Economic Development Board released today the latest figures on Singapore’s manufacturing sector. According to EDB, on a seasonally adjusted month-on-month basis, manufacturing output grew 5.4% in December 2012. Excluding biomedical manufacturing, output increased 1.2%. However, EDB adds, on a year-on-year basis, Singapore’s manufacturing output declined 0.6% in December 2012. Excluding biomedical manufacturing, output fell 5.2%.
The electronics cluster drew the biggest loss, “contracting 16.9% in December 2012 compared to the same period a year ago, weighed down by continued weakness in electronics demand. The data storage segment fell 5.8%, a reversal from the high growth posted in November, as the low base effect from the Thailand floods wore off. Output of the semiconductors segment decreased 18.2%. Cumulatively, electronics output fell 11.3% in 2012 over 2011.”
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