Singapore's manufacturing sector likely remained lacklustre in April

The Economic Development Board will announce April industrial production numbers on 26 May. Analysts think manufacturing activity remained sluggish and likely declined by 1.8% y/y - the third straight month of y/y contraction. 

Domestic PMI readings may have stayed below the 50 threshold for the fifth consecutive month. Exports were likely soft in 4M-2015, with non-oil domestic exports rising only 3.8% y/y, says Stnadard Chartered. Meanwhile, the electronics sector enjoyed a more favourable base effect, which probably limited the downside in the April manufacturing sector reading. Given weak external demand, industrial production activity is expected to remain weak, going forward.