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NEWS UPDATES 26 August 2010

Singapore manufacturing declines

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Growth in Singapore's manufacturing sector slowed significantly in July, dragged down by the biomedical cluster.

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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