Thanks to growing overseas arrivals and robust consumer confidence.
According to Standard Chartered, industrial output may have risen by 3.8% y/y in September 2011.
Here’s more from StanChart:
September 2011 industrial production and unemployment data is out on Monday (24 October). We reckon that industrial output is likely to have risen by 3.8% y/y in September 2011. However, it is expected to have dropped m/m for the second straight month, as local producers – particularly
This is likely to continue to weigh on producers’ confidence and bodes ill for the near-term outlook for capital investment as well as for hiring in the manufacturing sector. However, this is likely to be partly mitigated by demand in the tourism and retail trade sectors, credit to rising overseas arrivals and relatively robust consumer confidence. Hence, we think that the unemployment rate will improve, albeit only slightly, to 4.32% in September, from 4.36% in August 2011.
Do you know more about this story? Contact us anonymously through this link.