Subscribers

Dismal start to 2015 for manufacturing

Q1 GDP growth could come in under 2%; some economists see higher risk of further MAS easing in April

Singapore

IT was a slow and disappointing start to 2015 for Singapore's manufacturing sector, which grew less than expected in January despite an undemanding year-ago base. The surprisingly weak showing was due to a broad-based, uninspiring performance across all industrial clusters, save biomedical manufacturing and precision engineering.

Factory output rose just 0.9 per cent in January on a year-on-year basis, far lower than the market's consensus forecast of a 3.3 per cent increase. Strip out the volatile biomedical cluster, and the result would have been even worse: a zero-growth outcome with unchanged output.

With February's factory output expected to be weak on Chinese New Year plant closures,...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes