The Economic Development Board of Singapore will announce April industrial production numbers on 26 May.
“Manufacturing activity is expected to remain sluggish and likely declined by 1.8% y/y-the third straight month of y/y contraction. Domestic PMI readings may have stayed below the 50 threshold for the fifth consecutive month. Exports were likely soft in 4M-2015, with non-oil domestic exports rising only 3.8% y/y”, estimates Standard Chartered.
Meanwhile, the electronics sector enjoyed a more favourable base effect, which probably limited the downside in the April manufacturing sector reading. Given weak external demand, analysts expect industrial production activity to remain weak, going forward.
The material has been provided by InstaForex Company – www.instaforex.com