Sinkie Manufacturing Output Slump Due to Populist Pressure By Sinkies

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An honorable member of the Coffee Shop Has Just Posted the Following:

Quote:
SINGAPORE: Singapore manufacturing output fell 2.8 per cent in November from a year ago, the Economic Development Board (EDB) said on Friday (Dec 26), surprising economists who had expected a slight expansion.

November's contraction marked the third consecutive year-on-year decline in manufacturing, as October manufacturing was revised to show a 0.2 per cent drop in production. EDB had previously reported a slight expansion of 0.2 percent for October.

Excluding biomedical manufacturing, output declined 3.1 per cent in November from a year ago, EDB said.

The biomedical manufacturing cluster's output decreased 1.1 per cent on-year in November. Within the cluster, pharmaceuticals output dropped 4.4 per cent, while the medical technology segment grew 12.6 per cent, largely due to strong demand for new products launched in 2014.

Output of the precision engineering cluster increased 1.4 per cent compared to the same period a year ago. The machinery and systems segment grew 3.0 per cent, supported by higher export demand for semiconductor related equipment and process control equipment. However, this was partly offset by the precision modules and components segment, which fell 0.3 per cent with lower output in metal stamping, and optical instruments and photographic equipment.

The chemicals cluster's output contracted 6.9 per cent with the decline largely attributed to plant maintenance shutdowns in the petrochemicals (-2.9 per cent), specialities (-5.4 per cent) and petroleum refining (-24.1 per cent) segments.

Output of the electronics cluster increased 1.2 per cent, attributed to output growth in the infocomms and consume electronics (17.5 per cent), other electronic modules and components (10.6 per cent) and data storage (6.4 per cent) segments.

Output of the transport engineering cluster decreased 5.9 per cent. The marine and offshore engineering segment fell 3.9 per cent on account of lower contributions from rig building activities, while the aerospace segment declined 20.6 per cent on the back of slow demand for engine repair jobs.

The general manufacturing industries cluster's output declined 10.2 per cent. Output of the food, beverages and tobacco segment increased 1.1 per cent partly due to expanded capacities, but the miscellaneous industries segment fell 16.4 per cent partly due to a high base in the output of steel structural components last year.

http://www.channelnewsasia.com/news/...g/1550300.html

There would not have been a slump in output if not for PAP caving in to populist pressure to reduce intake of foreign talent. Sinkies happy?


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