Best Gold Stocks to Buy Now: AABB, GOLD, GDX 
Data released by Economic Development Board (EDB) showed on July 26 that Singapore's industrial production decreased 0.3 percent year-on-year in June compared to a 0.8 percent rise in May and April’s 2.8 percent gain. Sharp falls in marine and offshore engineering output and pharmaceuticals production offset a jump in electronics output.
On a month-on-month seasonally adjusted basis, factory output fell 2.5 percent in June, matching the median forecast in the Reuters survey. This was the first contraction since February, when output shrank 3.5 percent. Fall manufacturing output is also reflective of the weaker trade numbers shown by trade agency International Enterprise (IE) Singapore last week which showed the Republic’s non-oil domestic exports fell 2.3 percent year-on-year in June, reversing the 11.6 percent growth seen in May.
There are a couple of bright spots in today’s reading. Electronics rose at a faster pace at 19.7 percent y/y in June vs 5.3 percent growth in May, indicative of positive spillovers from the regional tech cycle that have buoyed South Korea and Taiwan manufacturing activity and exports. Excluding biomedical manufacturing, output grew 2.4percent y/y.
"Risks for growth are tilted firmly to the downside, future Monetary Authority of Singapore (MAS) easing moves may be required to accommodate any further deterioration in the outlook. We are monitoring Q2 labour data (released on July 28) which will give insights on the health of the labour market that feeds into MAS’s policy reaction function,” said ANZ in a note to clients.
