Electronics continued to contract, but the 9.6% decline was milder than August’s 25% plunge. Pharmaceuticals surged 26.2% in September from a year ago, while petrochemicals gained 6.9%.
Singapore’s central bank chief said earlier this week that the economy was set for a recovery in a few quarters time, although it probably won’t be a “robust” one. The government’s forecast is for economic growth to slow to 0%-1% this year.
