Singapore's industrial production to remain patchy in coming months: Standard Chartered

Quotes from Standard Chartered:

-Singapore will release January industrial production data on 26 February. We expect production to have risen 2.1% y/y, following a 1.9% contraction in December.

-The y/y growth rate was likely boosted by the base effect, with the Lunar New Year falling in February this year and January last year. Sentiment remains soft, as evidenced by the contractionary January PMI reading.

-However, the PMI production sub-index rebounded in January after contracting in December. We expect industrial production to remain patchy in the coming months. It may improve as the year progresses, particularly if external demand from major economies improves.