Singapore’s factory output expanded 3.4% in September, but a steep pharmaceutical decline pulled growth below August’s pace, according to the Economic Development Board (EDB), leaving the manufacturing picture uneven.
The year-over-year increase was down from 15.4% in August. The Straits Times reported that September’s result missed the 7.1% forecast in a Bloomberg poll of economists.
Biomedical manufacturing contracted 32.8%. Pharmaceuticals dropped 65.9%, and The Straits Times linked the fall to a change in the range of active pharmaceutical ingredients being produced. Medical technology output decreased 1.7% amid softer export demand, the newspaper reported.
Precision engineering led the gains, with output up 31%. Machinery and systems production grew 34.8% as semiconductor equipment output increased, while precision modules and components rose 12.4%. Electronics output advanced 5.7%, down from a 28.3% increase in August. The Straits Times attributed support for both clusters to demand for products tied to artificial intelligence.
Within electronics, infocomms and consumer electronics rose 29%, and computer peripherals and data storage were up 21.3%. Semiconductor output grew 1.9%, compared with 25.9% growth in August.
Transport engineering rose 10.6%, while general manufacturing increased 4%. The Straits Times reported that transport gains included land output growth of 31.4% and aerospace growth of 16.3%, partly offset by a 6.3% contraction in marine and offshore engineering. In general manufacturing, food, beverage and tobacco output rose 11%, printing gained 7.6%, and miscellaneous manufacturing fell 8.4%.
Chemicals output declined 4.6%. Petrochemicals fell 24.3% amid weaker demand and feedstock disruptions, while specialties and petroleum rose 14.3% and 4.6%, respectively, The Straits Times reported.
