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October 05, 2023
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Singapore Retail Sales 1.7% m-o-m in Aug-23

- Singapore's retail sales in August 2023 grew by 1.7% m-o-m, marking the highest growth since March 2023 and exceeding the previous month's growth rate of 0.8% (revised from 0.6%).
- Compared to the one-year average, August 2023 retail sales growth is 2.04pp higher, indicating a robust recovery for the retail sector. Additionally, the y-o-y growth rate stands at 4.0%, highlighting sustained positive performance.

October 04, 2023
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Singapore PMI Composite 54.2 in Sep-23

- Singapore's PMI Composite increased to 54.2 in September 2023, indicating a robust recovery in the manufacturing sector and overall economic activity.
- The PMI reading surpasses the previous month's level and stands significantly higher than the long-term average, signaling above-average growth and positive momentum in Singapore's economy.

October 02, 2023
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Singapore Residential Property Price Growth 0.5% q-o-q in Q3-23

- Singapore residential property prices saw a modest 0.5% q-o-q growth in Q3-23, marking the highest growth since Q1-23.
- However, this growth falls below both the one-year and long-run average growth rates, indicating a market that is still recovering.

September 26, 2023
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Singapore industrial production -12.14% y-o-y (consensus -3.1) in Aug-23

- Singapore's industrial production recorded a significant year-on-year decline of 12.14% in August 2023, which is considerably lower than market expectations of a 3.1% decrease.
- This is the lowest growth rate since February 2023 and falls 7.28 percentage points under the one-year average and 18.80 percentage points under the long-run average. The weak performance in the industrial production sector raises concerns for Singapore's overall economic outlook.

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