Malaysia’s exports in October rose by 0.2% to RM91.10bil, underpinned by rubber exports, palm oil agriculture products and electrical and electronic products. FOLLOWING the long weekend, this four-day week will not be as quiet as trade figures are due.The Statistics Department is expected to release trade numbers for November 2020 today. Malaysia’s exports in October rose by 0.2% to RM91.10bil, underpinned by rubber exports, palm oil agriculture products and electrical and electronic products. October exports of RM91.1bil was the second highest monthly export value recorded this year. Malaysia’s imports declined by 6% to RM68.9bil from RM73.3bil in October 2019. Total trade was valued at RM160bil, shrank by 2.5% year-on-year. Malaysia’s trade surplus in October widened to RM22.12bil, expanding by 25.9% year-on-year and was the highest trade surplus ever recorded for the month of October. Based on the IHS Markit data, the manufacturing Purchasing Managers’ Index (PMI) in November fell to 48.4 points from 48.5 in October. Meanwhile, Bank Negara will release the detailed disclosure of international reserves as at end November 2020 on Thursday.Japan industrial production JAPAN is expected to announce its industrial production for November today. Economists expect a 2% growth from the previous month. In October, Japan’s industrial production rose 3.8% from the previous month, gaining for the fifth straight month, supported by a recovery in demand for machinery and autos from a pandemic-induced slump. According to reports, manufacturers polled said they expect output to rise 2.7% in November and decrease 2.4% in December. Singapore GDP A GLIMPSE of the full year 2020 gross domestic product (GDP) growth is expected from Prime Minister Lee Hsien Loong’s (pic below) New Year message on Dec 31.UOB Global Economics and Markets Research expects fourth-quarter GDP to contract by 4.6% year-on-year (from -5.8% in third quarter), with the full-year GDP contraction to be -6%. UOB said Singapore’s preliminary fourth quarter 2020 and full year 2020 GDP will be released between Jan 7 and Jan 14. However, it said it is a repeat of 2018 and 2019, then the data may be released earlier on Jan 4, one of the first countries to do so. Private sector economists polled by the Monetary Authority of Singapore expect the economy to contract by 6% this year, unchanged from the previous survey published three months ago. The economy will likely shrink by 4.5% year-on-year in the fourth quarter, according to the central bank’s latest quarterly survey released on Dec 9. GDP is expected to recover in 2021 and grow by 5.5%. The respondents estimate that the Singapore economy is most likely to expand by 5% to 5.9% next year. China PMI THE last day of 2020 will end with the release of China’s December official manufacturing and non-manufacturing Purchasing Managers’ Index (PMI). Bloomberg estimates its manufacturing PMI to be at 51.8 while non-manufacturing PMI at 56. The PMI for China’s manufacturing sector came in at 52.1 in November, up from 51.4 in October. The non-manufacturing PMI rose to 56.4 in November from 56.2 in October.
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