RHB Securities’ economists attribute this to the circuit breaker measures which restricted the operations of non-essential services from April 7 to June 1. This in turn, “halted production and dampened demand,” they elaborate in a June 29 note.
SINGAPORE (June 29): Economists expect Singapore’s manufacturing to weaken in the coming months, following the plunge in May’s factory output numbers. The metric fell 7.4% year-on-year, reversing into the red after two months of stellar growth.
