To the casual observer, life in Singapore seems to have regained some semblance of normalcy since the harrowing two months of circuit breaker measures. Once empty streets are once more bustling with cars while shops and restaurants have reopened for business once again. The spectre of Covid-19, which continues to ravage the global economy, appears to be nothing more than a distant nightmare. 

According to CGS-CIMB analysts Lim Siew Khee and Jeremy Ng, retail sentiment remained buoyant as of August, with inflows across the board, with the pair naming financials, telcos and consumer cyclicals as their favourite sectors. Non-domestic oil exports (NODX), says CGS-CIMB analysts Lim Siew Khee and Jeremy Ng, has grown 7.7% y-o-y in August,  exceeding their initial 3.4% expectation. This NODX recovery, they argue, was aided by electronics, non-monetary gold, specialised machinery and food preparation sectors. 

Excluding biomedical industries, industrial production in August rose 15.3% y-o-y, underpinned by a 44.2% spike in manufacturing y-o-y as a result of a pickup in global economic activity and stockpiling following the US’s ban on suppliers to Chinese tech giant Huawei. Primary home sales also rose by 11.8% y-o-y and 16.3% m-o-m, with half coming from Rest of Central Region (RCR) projects and another 40% from suburban projects. 

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook