FW: RHB | Singapore | December's Decline Still Caps a Strong Year For IPI

 

 

Economic Research			29 January 2018
Singapore
Economic Update
December’s Decline Still Caps a Strong Year For IPI   Singapore’s IPI declined 3.9% YoY in Dec 2017, deteriorating from its +5.6% reading the month before, undermined by a sharp slowdown in semiconductor production and a collapse in pharmaceutical output. Despite the late collapse, 2017 was a good year for the manufacturing sector, as the Industrial Production Index (IPI) rose 10.1% for the full-year, accelerating from +3.7% in 2016. Excluding biomedical manufacturing, the figure rises to 15.3% in 2017, up from +1.3% the year before.   Economist: Ng Kee Chou | +603 92802179
To access our recent reports please click on the links below: 24 January 2018: December CPI Slows; Faster Pick-Up Expected For 2018 18 January 2018: NODX Eased Further In December, Up 8.8% For 2017 3 January 2018: 4Q GDP Easing, Domestic Demand To Aid 2018 Growth 2 January 2018: Consumer Loans Pick Up In November 27 December 2017: Higher Transport Costs Lift November CPI 19 December 2017: NODX Starts To Slow Down
Economics Team
Arup Raha	Group Chief Economist	arup.raha@rhbgroup.com		+65 6232 3896
Peck Boon Soon	Chief ASEAN Economist	bspeck@rhbgroup.com		+603 9280 2163
Vincent Loo Yeong Hong	Malaysia, Vietnam	vincent.loo@rhgroup.com		+603 9280 2172
Ng Kee Chou	Singapore, Thailand	ng.kee.chou@rhbgroup.com		+603 9280 2179
Rizki Fajar	Indonesia, Philippines	rizki.fajar@rhbgroup.com		+6221 2970 7065
Aris Nazman Maslan	Malaysia, Vietnam	mohd.aris.nazman@rhbgroup.com		+603 9280 2184