ASEAN KEY DESTINATIONS
Singapore manufacturing declines
Data released by the Economic Development Board (EDB) showed that last month's output rose by 9.9 percent on-year.
That's much lower than the 29.5 per cent year-on-year growth witnessed in June.
But the figure is still better than market forecasts for a 6.3 percent on-year growth.
Excluding the biomedical manufacturing cluster, EDB said the output would have grown by 20.2 per- cent on-year.
The biomedical manufacturing cluster's output declined 11.2 per cent on-year.
EDB said the pharmaceuticals segment fell primarily due to a different mix of active pharmaceutical ingredients produced.
The top performer was the precision engineering cluster, which expanded 50.9 percent on-year, boosted by the machinery & systems segment.
EDB said higher export orders for semiconductor related equipment as well as the ramp-up of production in new plants helped the cluster.
The electronics sector continued to do well, with output up by 24.5 percent on-year due to healthy demand.
Compared to the previous month, industrial output rose by 1.4 percent in July, better than the 22 per- cent month-on-month contraction seen in June.
For the first seven months this year, manufacturing output expanded 36.6 percent.
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