SINGAPORE - Singapore's factory output contracted for the third straight month in July, on the back of a continued drop in the volatile biomedical manufacturing cluster, according to data released by the Economic Development Board (EDB) on Wednesday (Aug 26).. Read more at straitstimes.com.
SINGAPORE - Singapore's factory output contracted for the third straight month in July, on the back of a continued drop in the volatile biomedical manufacturing cluster, according to data released by the Economic Development Board on Wednesday .
But on a year-to-date basis, the biomedical manufacturing cluster grew 19.4 per cent compared with the same period a year ago, after a five-month-long winning streak that began in January. General manufacturing output also fell, by 22.2 per cent last month, with all segments recording declines. The other chemicals segment fell 15.2 per cent while the specialties and petroleum segments contracted 16 per cent each, on the back of plant maintenance shutdowns and lower export orders amid the coronavirus outbreak. In the first seven months of this year, output of the chemicals cluster fell 5 per cent compared with the same period in 2019.
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