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Economic
Research
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28 November 2016
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Singapore
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Economic
Highlights
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Singapore’s industrial
production index (IPI) gained 1.2% y-o-y in October, slowing sharply from a
7.7% surge the month before. The sharp moderation in growth was driven by
broad-based weaknesses. However, semiconductor output growth continued to
gain momentum, cushioning some of the downside.
Going
forward, we see some headwinds ahead, especially in the electronics cluster.
However, a return to full production for the pharmaceutical factories should
help offset some of the losses. We maintain our projection for the IPI to
gain 1.0% in 2016, from -5.1% in 2015.
Economist: Ng Kee Chou
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Monday, November 28, 2016
October IPI Slowed On Broad-Based Weakness
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