Tuesday, February 27, 2018

FW: RHB | Singapore | IPI Picks Up In Early 2018

 

 

 

 

Economic Research

26 February 2018

Singapore

 

Economic Update

 

 

 

IPI Picks Up In Early 2018

 

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

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

 

 

 

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