S'pore factory output up 6.3%

S'pore factory output up 6.3%

SINGAPORE: Singapore's manufacturing output expanded for the second straight month with an annual 6.3 percent rise in September, bolstered by strong performances in key industry clusters, the government said on Monday.

Last month's manufacturing figures were within but at the lower end of the 5.50-15.40 percent growth predicted by economists who were polled by financial news agency AFX-Asia.

The Economic Development Board (EDB) said in a statement the September reflected "higher output from the electronics, bio- medicals, chemicals and precision engineering clusters."

Output from electronics, the mainstay of the manufacturing sector, increased 11.5 percent from a year ago due largely to a strong 42.1 percent jump in the semiconductor industry.

Biomedicals was up 11 percent, chemicals rose 8.1 percent and precision engineering registered a 4.1 percent increase in output.

Growth from the four key industry segments helped negate a 9.1 percent decline in transport and a 1.2 percent contraction in the general manufacturing industries.

For the year to September, total manufacturing output was 0.5 percent higher from a year ago, the EDB said.

The manufacturing sector is a key pillar of the local economy, contributing almost a quarter to Singapore's gross domestic product and the monthly production report card is among the indicators followed closely by economists.