Halister News

(Bloomberg) -- Factory output probably fell 5.1% y/y in Jan. following 7.9% decline in Dec., according to median est. in Bloomberg survey; range of ests. from -9.0% to -1.1%; data due 1pm local time tomorrow.

• Would be 12th month of negative output; see table here
• Since release of Dec. IP data on Jan. 26, Singapore PMI fell to 49.0 from 49.5, retail sales dropped to 2.9% from 4.7%, non-oil domestic exports contracted 9.9% from -7.2% and CPI held steady at -0.6%
• Over same period USD/SGD has declined 1.5% to 1.4050; 10- year bond yields down 16 bps to 2.187%
• NOTE: GDP grew 6.2% q/q in 4Q, more than initially estimated