(I) Total Manufacturing Performance
1.  Manufacturing output dipped 2.5% on a seasonally adjusted month-on-month basis in February 2009 as global demand continued to shrink in light of the current economic downturn. It declined 22.4% compared to the same month a year ago. The three-month moving average year–on-year index for February shrank 21.9% with respect to the same period last year. Cumulative output in the first two months of 2009 declined by 26.2% compared to the same period in 2008.

(II) Performance by cluster
2.  The transport engineering cluster expanded 18.5% year-on-year in February 2009. Growth was contributed by the marine & offshore engineering and aerospace segments. Existing orders kept shipyards busy as some projects are due for delivery towards the end of the year. The output of the aerospace segment also increased due to more repair works for commercial aircraft arising from contracts secured previously. Cumulative output of the cluster grew 12.3% in the first two months of 2009 compared to the same period in 2008.

3.  Output of the general manufacturing industries also increased 0.6% in February 2009 compared to the same month last year. The food, beverage and tobacco industry recorded a year-on-year increase in output as output last year was low due to Chinese New Year holidays. However, the output of the printing industry dipped 10.9% due to lower orders. For the first two months of 2009, the cluster recorded a cumulative decline of 11.7% compared to the same period a year ago.

4.  Output of the precision engineering cluster shrank 21.5% in February 2009 compared to a year ago. Production for the machinery & systems and precision modules & components segments contracted by 18.2% and 24.1% respectively as orders declined due to the current economic climate. Cumulatively, output in the first two months of 2009 was down by 29.8% compared to the same period in 2008.     

5.  The output of the chemicals cluster dipped 22.1% in February compared to the same month a year ago. The contraction was experienced across all segments. There were maintenance shutdowns in some petrochemical plants during the month. The oil refineries also cut back on crude petroleum refining due to lower margins. Cumulatively, the cluster’s output in the first two months of 2009 shrank 23.3% compared to the same period in 2008.

6.  The biomedical manufacturing cluster slid 27.9% in February. The pharmaceuticals segment contracted by 29.4% due to a different mix of active pharmaceutical ingredients manufactured. The cluster’s cumulative output in the first two months of 2009 declined 29.0% compared to the same period a year ago. 

7.  The output of the electronics cluster decreased 37.3% in February 2009. As the global economy stagnated, the demand for electronic products remained depressed worldwide, leading to output cuts in all segments. Cumulative output in the first two months of 2009 declined 40.4% from the output level for the same period last year. 

8.   The next monthly manufacturing performance media release will be issued on 24th April 2009.

Editors’ Note: Updates on Monthly Manufacturing Output are available on
http://www.sprinter.gov.sg and http://www.sedb.com

For media enquiries, please contact Ms Shireen Mahtani (Tel: 68326842/ Handphone: 98173407/ Email: shireen_mahtani@edb.gov.sg)

For further information, please contact Ms Kok Yit Hoe ( Tel 68326741/
Handphone : 98416281/ Email: yithoe@edb.gov.sg