Singapore government likely to revise 3Q GDP growth upward to 10.8%-11% vs estimated +10.3% on year, CIMB economist Song Seng Wun says after September manufacturing output unexpectedly +26.2% on year vs revised +7.7% August, +18.9 estimated by Dow Jones poll of 8 economists. 

Sharply higher 53.8% on-year growth in volatile pharmaceuticals output main reason for increase, Economic Development Board data show. “The late spurt thanks to drugs should translate into the GDP getting revised upward,” Song says.

 

Adds, MAS to watch stronger GDP keenly as likely to push wages higher, fuel inflation expectations. Singapore 3Q revised GDP estimates due before Nov. 26.