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Singapore’s industrial output declines in March

by ChemOrbis Editorial Team - content@chemorbis.com
  • 27/04/2015 (16:17)
According to data released by Singapore’s Economic Development Board, the country’s industrial output declined in March for a second consecutive month. Industrial output decreased 5.5% on the year in March after a decrease of 3.3% in February. Economists’ initial estimates called for a decrease of 5.9%, according to a survey conducted by Reuters. However, on a monthly basis, the country’s industrial output posted a seasonally adjusted increase of 1.2% in March.

In contrast to the generally declining trend in manufacturing, output in the chemicals segment grew 7.8% year over year on the back of higher output in the petroleum, specialties and petrochemicals segments.

Among other industrial segments, production of biomedical products decreased 8.5% in March compared with the same month of 2014 while output in the transport engineering sector decreased 15.6% due to lower output in aerospace, marine and offshore engineering. The fall in transport engineering was the steepest among major industrial categories.
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