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S'pore manufacturing output up 22% on-year in March

Singapore's manufacturing output accelerated in March, growing 22 per cent compared to a year ago, driven by a surge in biomedical output.

The Singapore Economic Development Board (EDB) said if output from the biomedical cluster is excluded, growth would just be 6.1 per cent.

It said output of the biomedical manufacturing cluster jumped 57 per cent in March.

The cluster's strong performance was led by the pharmaceutical segment.

It grew 60.9 per cent on the back of higher
value-added mix of active pharmaceutical ingredients being produced.

Market watchers say this increase is partly because activity has picked up in Asia, which supported Singapore's manufacturing activity in March.

OCBC Bank economist Selena Ling said the purchasing managers' index numbers in the region for March were not bad.

Ms Ling added that there are other indications that point to a pick up in manufacturing momentum last month. 

Meanwhile, output of the precision engineering cluster expanded 8.6 per cent on-year.

The electronics cluster grew 6.9 per cent.

Within the cluster, the infocomms & consumer electronics segment grew 44.4 per cent, with higher output of computing related products.

In contrast, the data storage segment declined 21.1 per cent, mainly due to the relocation of production overseas that was announced previously.

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