The data post is here, a surprise result indeed:
Main points on the release via ING:
- a significant outperformance
- 49% jump in the pharmaceuticals stood out as the main driver of growth as the sector is benefiting from the ongoing global health crisis
- Electronics ... best performance in over two years
- This data explains the resiliency of Singapore's manufacturing
- We believe worse lies ahead, as the month-long circuit-breaker to contain the Covid-19 spread will significantly impair activity in April and in the rest of this quarter.
