Singapore’s Economic Development Board (EDB) revealed a downturn in the nation’s manufacturing output in its latest report released yesterday.
The data shows a 10.8% decrease in manufacturing output in May 2023 compared to the same period last year.
This represents eight straight months of decline and has prompted economists to once again warn of a heightened risk of a technical recession.
What are the major concerns and silver linings - if any - stemming from this data?
On Money in the Market, Emaad Akhtar speaks to Song Seng Wun, Economist, CIMB Private Banking, to find out more.