Manufacturing produces stellar showing
Turnaround due to healthy semiconductor and biomed demand
Singapore
THE stunning 39.8 per cent surge in manufacturing growth in the fourth quarter of 2016 is in sharp contrast to the 5 per cent decline in the third quarter, helped largely by a recovery in demand for semiconductor worldwide, even as business costs dropped.
Year-on-year, the sector grew 11.5 per cent in Q4 2016, outpacing 1.8 per cent growth in the previous quarter, also helped by a robust biomedical manufacturing cluster. Overall, the sector - which contributes 19.6 per cent to the nation's nominal gross domestic product (GDP) - expanded 3.6 per cent in 2016, a reversal from the 5.1 per cent contraction in 2015, said the Ministry of Trade and Industry.
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