Economic Research | 28 May 2018 | |||
Singapore | ||||
Economic Update | ||||
Stronger April IPI Growth, In Line With Exports u Singapore’s IPI accelerated to 9.1% YoY in April (Bloomberg consensus: +8%, March: +6.1%). By manufacturing clusters, growth was driven by a rebound in biomedical and a pickup in chemicals and transport engineering output. u Excluding the volatile biomedical cluster, IPI still gained pace to 9.3% YoY during the month, from +8.9% in March. u Going forward, we expect IPI to ease to +7.6% in 2018, from +10.1% in 2017 as semiconductor production is projected to ease with demand for smartphones entering a late cycle. Economist: Vincent Loo Yeong Hong | +603 9280 2172 | ||||
To access our recent reports please click on the links below: 24 May: GDP Above Initial Estimate 23 May: April’s Inflation Still Soft 17 May: NODX Rebounds In April On Pharma Exports 30 Apr: M3 Eases In March, Loans Stay On Upward Trend 26 Apr: IPI: Stellar Semicon Growth But Weakness Persists 23 Apr: March Inflation Eases To 0.2% YoY | ||||
Economics Team | ||||
Arup Raha | Group Chief Economist | +65 6232 3896 | ||
Peck Boon Soon | Chief ASEAN Economist | +603 9280 2163 | ||
Vincent Loo Yeong Hong | Malaysia, Singapore | +603 9280 2172 | ||
Ahmad Nazmi Idrus | Indonesia | +603 9280 2179 | ||
Aris Nazman Maslan | Thailand, Philippines , Vietnam | +603 9280 2184 | ||
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