S'pore's industrial output falls more than expected in Oct

S'pore's industrial output falls more than expected in Oct
Posted: 26 November 2012 1352 hrs
     
SINGAPORE: Singapore manufacturing output fell more than expected in October as production of electronics and pharmaceuticals slipped.

Output fell 2.1 per cent in October from the same month the previous year, led by declines of 6.0 per cent and 11.7 per cent respectively in the electronics and biomedical sectors.

Economists had forecast a year-on-year drop in total manufacturing output for October of around 1 per cent.

The Economic Development Board (EDB) said in a statement most segments of the electronics industry continued to contract because of weak export demand.

Electronics output slumped 11.6 per cent in the first ten months of 2012.

The EDB said a 12.9 per cent on-year rise in output of medical technology was not enough to offset a 15.3 per cent contraction in pharmaceuticals.

Excluding biomedical, total manufacturing output grew by 0.6 per cent in October from a year earlier.

On a seasonally adjusted month-on-month basis, Singapore manufacturing output rose 3.3 per cent. Excluding biomedical manufacturing, output increased 2.3 per cent in October from September 2012.

- CNA/ck


- wong chee tat :)