Singapore’s manufacturing output hit more than two-year high in Nov
The output also increased by 6.1% month-on-month, beating the estimates which suggested a contraction by 2.0%, EDB showed. The monthly growth in manufacturing was the strongest since January 2016.
Data from EDB indicated that biomedical manufacturing increased by 34.8% on a yearly basis. The pharmaceutical segment grew by 36.1% while medical technology segment expanded by 30.8% year-on-year.
The data also showed that the chemical output was up by 3.5%, with the largest increase in petroleum segment by 22%.
Despite the increase in general output, the output in transport engineering and general manufacturing clusters decreased. Manufacturing activity in transport engineering decreased the most by 14.8% in November while general manufacturing industries declined by 0.9% on a yearly basis, data showed.
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