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Singapore PMI Composite 53.6 in Aug-23

- Singapore's PMI Composite for August 2023 recorded a robust reading of 53.6, surpassing the previous value of 51.3 and indicating accelerated economic growth.
- This figure stands 0.04 points above the one-year average, highlighting the improved economic conditions and suggesting a favorable business environment.

Singapore PMI manufacturing 49.9 in Aug-23

- Singapore's PMI manufacturing recorded a reading of 49.9 in August 2023, indicating a potential stabilization and slight improvement in the sector.
- The PMI reading is the highest since February 2023 and slightly above the one-year average, suggesting a gradual recovery.

Singapore industrial production -0.63% y-o-y (consensus -3.8) in Jul-23

- Singapore's industrial production declined by 0.63% year-on-year in July 2023, surpassing market expectations of a larger contraction.
- The sector experienced its highest level of growth since January 2023, but remains below the long-run average, indicating ongoing challenges.

Singapore CPI inflation 4.11% y-o-y (consensus 4.1) in Jul-23

- Singapore's CPI inflation in July 2023 stood at 4.11% year-on-year, in line with market consensus, representing the lowest growth rate since January 2022.
- The current inflation rate is 1.95 percentage points below the one-year average, indicating a downward trend, but 1.52 percentage points above the long-run average, suggesting relatively high inflation levels.