Singapore’s manufacturing declines 2.3% in May
The data showed that production in chemicals segment rose 1.3% on the year in May while the petroleum segment grew 6.5% owing to higher throughput in refineries on the back of better margins. However, Singapore’s petrochemical output fell 1.7% from a year earlier in May. The decrease was attributed to maintenance shutdowns at some plants.
The data also revealed that the electronics output declined 0.2% in May after increasing 0.2% in the previous month while production in the pharmaceutical segment fell 10.3% on the year and output in the biomedical sector was down by 2.6% in May compared with the same month of 2014. Production of transport engineering also dropped 8.1% from a year earlier in May after posting a revised decrease of 8.9% in the previous month.
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