Friday, October 27, 2017

FW: RHB | Singapore | IPI Remains On An Easing Trend





Economic Research

27 October 2017



Economic Update




IPI Remains On An Easing Trend 


Singapore’s IPI moderated to +14.6% YoY in September, dragged by softening semiconductor and pharmaceutical production as well as a sharp decline in transport engineering activities. Excluding biomedical manufacturing, Singapore’s IPI grew 16.1% YoY in September, retreating from an 18.2% increase the month before.

Going forward, IPI is expected to slow in the coming months, undermined by production issues for the iPhone X and a high base effect in 4Q16. Further, demand from US consumers may taper on account of the disruption in economic growth brought on by the slew of hurricanes that have hit the nation in recent months. We maintain our forecast for IPI to grow 8.3% in 2017, compared to +3.6% in 2016. Manufacturing activity is expected to increase 6.3% next year.


Economist:  Ng Kee Chou | +603 92802179



To access our recent reports please click on the links below:

16 October 2017: MAS Stoic Despite Sharp 3Q GDP Rise

02 October 2017: Loan Growth Picked Up Despite Softening M3

27 September 2017 : IPI Slows Despite Pharmaceutical Rebound

26 September 2017: August CPI Remained Muted

19 September 2017: August NODX Surged On Semiconductor, PC Demand

5 September 2017: Loan Growth Softened In Financial, Commerce Sectors


Economics Team

Peck Boon Soon

Chief ASEAN Economist

+603 9280 2163

Vincent Loo Yeong Hong

Malaysia, Vietnam

+603 9280 2172

Ng Kee Chou

Singapore, Thailand

+603 9280 2179

Rizki Fajar

Indonesia, Philippines

+6221 2970 7065

Aris Nazman Maslan

Malaysia, Vietnam

+603 9280 2184




This message is intended only for the use of the person(s) to whom it is 
addressed and may contain information that is privileged or otherwise protected
from disclosure. If you are not the intended recipient you are hereby notified that
any use, review, disclosure or copying of this message and the information it
contains is prohibited. If you receive the message in error, please notify the
sender by reply e-mail and discard all its contents.
Thank You.


No comments:

Post a Comment

Note: Only a member of this blog may post a comment.

Related Posts with Thumbnails