To The Moon

PMI fell to 49.9 in September, Singapore's manufacturing industry shrank for the first time in more than two years

Economists pointed out that the central bank continues to raise interest rates hawkishly, increasing the risk of a global economic recession, the decline in market demand affects the electronics industry, which in turn drags down the performance of the overall manufacturing industry, and the Singapore economy faces the risk of a technical recession.

Macroeconomic risks intensified as Singapore's manufacturing sector snapped a 26-month streak of expansion before falling into contraction in September. Among them, the decline in the electronics industry further expanded.

The Federal Reserve raised interest rates, and global bond yields rose sharply. The first-year interest rate of the new batch of savings bonds of the HKMA was 3.08%, and the 10-year average interest rate was 3.21%. A total of 900 million yuan was issued and has been accepted for subscription. The Chinese government is also expected to issue more bonds to develop infrastructure.

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