SGS Perspectives

Singapore

    Today (2 April), we are expecting Singapore’s Purchasing Managers’ index (2 Apr) and consensus expects a reading of 49.6, slightly lower than 49.7 in March. The expectations for a 4th straight month of contraction in the PMI numbers is of no surprise as recent releases of manufacturing activities such as non-oil domestic exports and industrial production showed weaker-than-expected growth rates. It will be a quiet week for Singapore with just the March foreign reserves data (7 April) and a COE auction (8 April). That said, things may get a bit exciting if they do release the Singapore’s 1Q GDP advance estimate (which is scheduled for release within 10- 14 April 2015) on Friday (10 April) which is normally released together with the October Monetary Policy Statement (MPS). However, we think that 14 April is the most likely date for the April MPS and 1Q 2015 GDP release.