<\/p>\n
\n Share:<\/span><\/p>\n Senior Economist at UOB Group Alvin Liew and Associate Economist Jester Koh comment on the recently released Industrial Production performance in Singapore.<\/p>\n The contraction in Singapore\u2019s Sep IP narrowed significantly to -2.1% y\/y from Aug\u2019s revised reading of -11.6% y\/y (prev: -12.1%). The improvement in Sep\u2019s IP was better than Bloomberg\u2019s consensus of -4.5% y\/y and UOB\u2019s estimate of 5.4% y\/y. On a seasonally adjusted sequential basis, IP expanded 10.7% m\/m sa in Sep, a reversal from the revised -10.8% m\/m sa contraction in Aug (prev: 10.5%). Similarly, the Sep m\/m sa reading was stronger than Bloomberg consensus for a 8.1% m\/m sa expansion and our estimate of 7.0% m\/m sa. In the first 9 months of 2023, IP contracted by -5.8% y\/y. \u00a0\u00a0<\/p>\n<\/blockquote>\n This marks the 12th consecutive month of y\/y decline, exceeding the previous worst streak (which was in 2015 that recorded 11 straight months of y\/y declines). \u00a0\u00a0<\/p>\n<\/blockquote>\n \u00a0We maintain our 2023 full-year industrial production forecast at -7.0%. With the Sep IP broadly in-line with the official implied projection (est -1.9% y\/y) during the 3Q23 advance GDP release and a smaller contraction in the revised Aug IP reading, 3Q23 manufacturing likely fell by a milder -4.6% y\/y (advance estimate: -5.0%) which may push the 3Q23 GDP marginally higher to 0.8% y\/y (prev: 0.7%), assuming the other segments remain unchanged.\u00a0<\/p>\n<\/blockquote><\/div>\n","protected":false},"excerpt":{"rendered":" Share: Senior Economist at UOB Group Alvin Liew and Associate Economist Jester Koh comment on the recently released Industrial Production performance in Singapore. Key Takeaways The contraction in Singapore\u2019s Sep IP narrowed significantly to -2.1% y\/y from Aug\u2019s revised reading of -11.6% y\/y (prev: -12.1%). The improvement in Sep\u2019s IP was better than Bloomberg\u2019s consensus […]<\/p>\n","protected":false},"author":2,"featured_media":182280,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[299,201,248,251,246,257,255,4758,250,252,247,253,249,3236,256,254],"class_list":["post-182279","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-banks","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-industrialproduction","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-singapore","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/182279","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=182279"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/182279\/revisions"}],"predecessor-version":[{"id":182281,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/182279\/revisions\/182281"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/182280"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=182279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=182279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=182279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Key Takeaways<\/h2>\n
\n
\n
\n