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Singapore industrial output up 12.6% in Feb
SINGAPORE'S manufacturing output rose 12.6 per cent in February compared to a year ago, driven by continued growth in the semiconductor and precision engineering space.
Excluding the volatile biomedical manufacturing segment, output soared 17.1 per cent.
On a seasonally adjusted month-on-month basis, manufacturing output was down 3.7 per cent in February 2017 compared to January 2017. Excluding biomedical manufacturing, output fell 3.4 per cent.
Compared to a year ago, output for the electronics cluster was up 39.8 per cent in February, with semiconductors rising 63.6 per cent.
Output for the precision engineering cluster was up 26.2 per cent year-on-year on the back of higher export demand for semiconductor-related equipment and higher output of dies, moulds, tools, jigs and fixture, optical instruments and metal precision components.
General manufacturing output grew 3.3 per cent year-on-year, with strong growth in food, beverage and tobacco partly due to fewer production days a year ago due to Chinese New Year, moderated by declines in miscellaneous and printing.
Chemicals rose 1.9 per cent, with growth in the petrochemicals and petroleum and specialties segments.
Biomedical manufacturing fell 2.6 per cent, with higher export demand for medical devices offset by a decline in the pharmaceuticals segment.
Transport engineering fell 9.6 per cent, with expansion in land transport and aerospace offset by a contraction in marine and offshore engineering.