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Monthly Manufacturing Performance – December 2007 |
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Manufacturing output slightly down in December 2007
(I) Total Manufacturing Performance
- Manufacturing output contracted by 1.7% in December 2007 compared to output in December 2006. Growth recorded by the other clusters was offset by a decline in the biomedical manufacturing cluster. The three-month moving average index in December 2007 was up 0.2% compared to the corresponding period in 2006. As for the seasonally adjusted month-on-month index for December, it went down by 4.7% from November. In spite of the December slowdown, the annual manufacturing output of 2007 increased by 5.8% over the output in 2006.
(II) Performance by cluster
- The transport engineering cluster maintained its year-on-year growth in December 2007. The growth of 18.0% came from higher output in all three segments. The marine & offshore engineering segment grew 25.8% with work completed for existing contracts in ship repair, shipbuilding, ship conversion and fabrication of oil rigs. The land transport segment grew 26.2% with higher production of land vehicle components for export. Meanwhile, the aerospace segment posted a 1.2% growth over December 2006. For 2007, the annual output of the transport engineering cluster was 23.5% higher than in 2006.
- The precision engineering cluster grew 5.5% in December 2007 compared to December of 2006. Output of the machinery & systems segment rose 21.3% due to higher production of machinery such as lifting & hoisting equipment, switch gears, switchboards, transformers and machine tools. As for the precision modules & components segment, its output shrank 6.9% due to lower production of plastic and metal precision components. The export of these products declined due to regional competition. For 2007, the cluster’s annual output was approximately at the same level as in 2006.
- Output of the electronics cluster maintained a steady 3.3% year-on-year growth in December. Higher output came from the semiconductors, data storage and other electronic modules & components segments. The production of semiconductors rose 12.6% with greater output of chips for mobile consumer electronic products. The output of data storage continued to climb, exceeding the level in December 2006 by 16.6%. The other electronic modules & components segment grew 14.9%. Amidst these expansions, the infocomms & consumer electronics and computer peripherals segments contracted by 15.1% and 16.5% respectively. For the year 2007, the cluster’s output grew by 4.0% compared to 2006.
- Output of the chemicals cluster increased 3.0% year-on-year in December 2007. There was increased production of 5.8% and 10.3% for the petrochemicals and specialties chemicals segments respectively. However, the petroleum segment shrank by 2.5% due to maintenance shutdown in one of the plants for a short period in December. For 2007, the chemicals cluster’s output achieved growth of 3.3% compared to 2006.
- The general manufacturing industries grew 1.4% in December. The production of food, beverages and tobacco products increased 3.4%, due to seasonal increase in domestic demand. However, the printing industries showed a decline in output, contracting by 6.7%. Cumulatively, this group of industries recorded output growth of 6.3% in 2007 compared to 2006.
- Output of the biomedical manufacturing cluster shrank year-on-year in December by 34.0%. Plant maintenance shutdown as well as different product mix resulted in a lower production of active pharmaceutical ingredients by 36.0%. The medical technology segment contracted by 18.0% due to decreased delivery of medical appliances to the US market. In 2007, the biomedical manufacturing cluster’s annual output shrank 0.6% compared to 2006.
- The Monthly Index is available from the Research & Statistics Unit of the Economic Development Board. For further information, please contact Miss Kok Yit Hoe by tel - 6832 6741 / fax - 68326493 / email yithoe@edb.gov.sg.
- The next monthly manufacturing performance media release will be issued on 26th February 2008.
Editors’ Note: Updates on Monthly Manufacturing Output are available on http://www.sprinter.gov.sg and http://www.sedb.com
For media enquiries, please contact Ms Juliana Tan (Tel: 68326377/ Handphone: 91734977/ Email: Juliana_tan@edb.gov.sg)
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