19 Aug '11, 9pm

Slump in Singapore electronics manufacturing industry deeper than previously thought

SINGAPORE - Figures released this week show the slump in Singapore's electronics manufacturing industry is deeper than previously thought. Indeed, some economists have pushed back their forecasts for a rebound and now hold dim hopes for a recovery by the end of the year. Barclays Capital economist Leong Wai Ho said: "Typically I think manufacturers in this part of the world - in times of duress and when things start to darken - they will hold fewer inventories and I think this will have the effect of pushing out the rebound. "The seasonal lift that traditionally happens towards the end of the year may not occur in the third quarter. We could see this pushed out to the fourth quarter." Thursday's figures painted a bleak picture of Singapore's exports than most economists had expected, with the electronics sector worst hit. Singapore's non-oil domestic exports (NODX) fell 2....

Full article: http://www.todayonline.com/Business/EDC110820-0000226/No-...

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