Singapore’s manufacturing output declinesDecember 26th, 2008 - 2:35 pm ICT by IANS
Singapore, Dec 26 (DPA) Singapore’s manufacturing output in November declined by 7.5 percent compared with the same month last year, according to the Economic Development Board Friday.On a seasonally adjusted month-on-month basis, output rose 6.2 percent in November, due to a higher level of production in the biomedical manufacturing cluster, the state agency said.
The three-month moving average year-on-year index for November fell 5.5 percent compared to the same period last year.
Cumulative manufacturing output for the first 11 months of 2008 fell 3.3 percent compared with the same period last year.
While the biomedical manufacturing and transport engineering sectors expanded, output of the chemical industry dropped by 20.1 percent year-on-year, while the petrochemicals segment was down 31.6 percent.
The electronics cluster shrank 19.4 percent in November, compared with the same month last year.