Economists warn that Singapore factory output could slow or contract further from Gulf conflict, following February’s 0.1% shock dip
February’s performance is in stark contrast to private-sector economists’ estimates, who predict a median 14.1% expansion
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[SINGAPORE] Economists cautioned that the Republic’s industrial production growth could slow – or even turn negative – due to the ongoing Middle East conflict, possibly extending February’s shock 0.1 per cent decline.
Factory output unexpectedly dipped 0.1 per cent year on year in February, dragged by the biomedical cluster, data from the Economic Development Board (EDB) showed on Thursday (Mar 26).
This was a sharp reversal from January’s downwardly revised 12.9 per cent growth, and broke a five-month expansion streak.
