Singapore's industrial production beats forecasts, but watch out for rising trade tensions

SINGAPORE (June 27): CGS-CIMB Securities says the Monetary Authority of Singapore (MAS) could take a cautious stance amid rising trade tensions between US and China.

This comes despite a robust 11.1% year-on-year growth in Singapore’s industrial production index (IPI) in May – beating CGS-CIMB’s and Bloomberg consensus’ growth forecasts of 10.5% and 10.0% respectively.

IPI growth in May was also 2.0 percentage points higher than the 9.1% y-o-y growth registered in April.

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