Singapore’s factory output slid 3.3% in September

Blame it on sluggish biomedical manufacturing.

Data released today by the Economic Development Board showed that Singapore’s manufacturing output declined 3.3% in September on a seasonally adjusted month-on-month basis. On a year-on-year basis, manufacturing output contracted 1.2% last month.

The decline was fuelled by a 10.3% year-on-year decrease in biomedical manufacturing output. Excluding biomedical manufacturing, output inched up 0.5% on a year-on-year basis.

“On a year-on-year basis, manufacturing output contracted 1.2% in September 2014. Excluding biomedical manufacturing, output increased 0.5%. On a three-month moving average basis, manufacturing output rose 1.9% in September 2014, compared to a year ago. On a seasonally adjusted month-on-month basis, manufacturing output declined 3.3% in September 2014. Excluding biomedical manufacturing, output rose 1.2%,” noted the EDB.