(MENAFN) According to latest news release by the Economic Development Board (EDB), Singapore's manufacturing output declined 2.3 percent in May on an annual basis, Xinhua reported.
Excluding biomedical manufacturing, output fell 2.2 percent on-year. On a three-month moving average basis, manufacturing output contracted 5.6 percent in May, compared to a year ago, EDB said.
On a seasonally-adjusted month-on-month basis, manufacturing output increased 2.4 percent in May, and excluding biomedical manufacturing, output grew up 1.1 percent month-on-month.
On the other hand, output for the biomedical manufacturing cluster fell 2.6 percent. Pharmaceuticals output declined 10.3 percent with a different mix of active pharmaceutical ingredients being produced.
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