SINGAPORE: Singapore’s industrial production in August is expected to have edged higher from the previous month, pointing to some stabilisation after contracting for three straight months, a Reuters poll showed.
Manufacturing output in August was forecast to have risen 1.8 per cent from the previous month on a seasonally adjusted basis, according to the Reuters survey. In July, output fell 4 per cent, recording the third consecutive month-on-month decline.
Industrial production was expected to have risen 0.6 per cent on a year-on-year basis, according to the median forecast in the Reuters poll of 12 economists, after contracting 3.6 per cent in July.
Sluggish exports and depressed demand for offshore drilling rigs have weighed on Singapore’s manufacturing sector. The city-state’s industrial production in the January to July period was down 0.2 per cent compared to the same period a year earlier.
