Barclays predicts Singapore will revise its fourth-quarter gross domestic product growth downward to 3.5% on-quarter on a seasonally adjusted and annualised basis from the 5.7% initial estimate reported earlier this month.
Barclays predicts weak external demand and falling crude oil prices will keep Singapore's external trade subdued in 2016 after the government reports a 7.9% year-on-year contraction in December industrial production.
The UK investment bank notes that the decline in production in December was driven largely by weak performance in the electronics and marine transport sectors, with the biomedical cluster the only bright spot in the release.
Electronics output, which accounts for nearly a third of Singapore's total production, fell 12.4% on-year in December, compared with a revised 13.9% fall the previous month. Production in the marine-and-offshore engineering segment fell 40.3% year-over-year in December, from a revised 22.9% fall in November, the data showed.
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Barclays predicts weak external demand and falling crude oil prices will keep Singapore's external trade subdued in 2016 after the government reports a 7.9% year-on-year contraction in December industrial production.
The UK investment bank notes that the decline in production in December was driven largely by weak performance in the electronics and marine transport sectors, with the biomedical cluster the only bright spot in the release.
Electronics output, which accounts for nearly a third of Singapore's total production, fell 12.4% on-year in December, compared with a revised 13.9% fall the previous month. Production in the marine-and-offshore engineering segment fell 40.3% year-over-year in December, from a revised 22.9% fall in November, the data showed.
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