Global chip shortage should buoy Singapore factory output in H1 2021, watchers say
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THE global chip shortage helped to boost a low-base effect, taking Singapore's factory output to a better-than-expected surge in the new year.
Industrial production rose by 8.6 per cent year on year in January, according to Economic Development Board (EDB) figures released on Friday - more than twice the median forecast of 3.6 per cent in a Bloomberg poll.
Prakash Sakpal, Asia senior economist at ING, said that "the data confirms that Singapore's economy is off to a strong start in 2021" and suggested it could push the full-year growth forecast to be revised upwards.
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