[SINGAPORE] The Republic’s factory output grew 3.9 per cent on year in May, easing from April’s revised figure of 5.6 per cent growth, data from the Economic Development Board showed on Thursday (Jun 26).
Still, May’s performance was better than expected according to private-sector economists, who predicted a 2.2 per cent expansion in a Bloomberg poll.
Excluding the volatile biomedical manufacturing cluster, output grew 4.9 per cent year on year in May, moderating from the revised 7.8 per cent growth posted in April.
All clusters except one recorded increases in production year on year.
Factory output in the linchpin electronics sector gained 3.9 per cent in May, after increasing 14.6 per cent in the preceding month.
The infocomms and consumer electronics recorded the largest jump at 42.6 per cent, followed by semiconductors at 3.4 per cent. Meanwhile, contractions were recorded for the computer peripherals and data storage segment (-18.7 per cent), as well as the other electronic modules and components segment (-20.8 per cent).
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Other clusters that recorded rises were:
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Transport engineering (25.6 per cent)
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Precision engineering (10.3 per cent)
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Biomedical manufacturing (6.1 per cent)
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Chemicals (0.3 per cent)
In transport engineering, the aerospace segment grew 43.6 per cent, bolstered by higher production of aircraft parts and more maintenance, repair and overhaul jobs from commercial airlines. The marine and offshore engineering segment increased 5.3 per cent, on account of higher levels of activities in the shipyards. Conversely, the land segment declined 12 per cent.
As for precision engineering, the machinery and systems segment expanded 12.3 per cent, led by higher production of semiconductor equipment and measuring devices. The precision modules and components segment grew 3 per cent with higher output in the plastic precision components and electronic connectors industries.
The general manufacturing cluster was the only one where output slipped. Production contracted 8.9 per cent in May; all segments except printing (2.2 per cent) recorded declines.
The food, beverages and tobacco segment declined 4.5 per cent due to lower production of beverage concentrates and bakery products. The miscellaneous industries segment contracted 16.6 per cent, mainly led by lower output of structural metal components and products, as well as paper and paperboard containers and boxes.
On a seasonally adjusted, monthly basis, manufacturing output slipped 0.4 per cent in May, reversing from April’s revised 4.9 per cent expansion.
Excluding biomedical manufacturing, production edged up 0.7 per cent on the month, seasonally adjusted, moderating from the revised 4.3 per cent extension recorded in the previous month.
