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Manufacturing output down 12.5% -- that is if you don't include this one cluster
So which cluster saved Singapore's manufacturing output and buoyed it to record 12.8% growth instead?
According to the report released by the government, Singapore's manufacturing output increased 12.8% in September 2011 on a year-on-year basis. But excluding biomedical manufacturing, output declined 12.5%.
The Economic Development Board said:
| Output of the biomedical manufacturing cluster expanded 88.4% in September 2011 year-on-year. The cluster continued to receive a boost from the strong performance in the pharmaceuticals segment (92.3% increase) where a mix of higher valued-added active pharmaceutical ingredients was produced. Output of the medical technology segment also went up by 15.2% in September with higher export demand for medical devices. On a year-to-date basis, the biomedical output increased by 21.9% compared to the same period a year ago. |
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