Economic Research | 26 February 2018 | |||
Singapore | ||||
Economic Update | ||||
Singapore’s Industrial Production Index (IPI) rebounded sharply by 17.4% YoY in January, after recording a contraction the month before. Its growth was mainly supported by the surge in electronics production, particularly semiconductors, while production of biomedical manufacturing and transport engineering bounced back into a growth during the month. Going forward, we expect IPI to remain positive but ease to +7.6 in 2018 from +10.1% in 2017. Semiconductor demand is projected to slow but not too severely, as it would be supported by higher production of radio frequency chips and testing activities. Meanwhile, pharmaceutical production and offshore marine activities are expected to recover from low bases this year Economists: Vincent Loo Yeong Hong | +603 9280 2172 Aris Nazman Maslan | +603 9280 2184 | ||||
To access our recent reports please click on the links below: 26 February : Inflation Stagnated in January 19 February: 2017 GDP Beat Forecasts, Growth To Slow But Broaden 19 February: January NODX Growth Shows Broadening Signs 15 February: Budget 2018: GST Hike, E-Commerce Tax Expected 2 February: Loan Growth Accelerated On Financial Sector Demand | ||||
Economics Team | ||||
Arup Raha | Group Chief Economist | +65 6232 3896 | ||
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 | ||
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