Industrial and Logistics Market Update Q2 2024
The manufacturing sector claws back to growth
31 July 2024
Key Highlights
- Manufacturing turned a corner alongside the economy, as international manufacturers continued to make investments in Singapore.
- Key industrial metrics such as prices, rents, and occupancy levels are expected to be stable across most industrial types, with GDP, manufacturing output, and PMI pointing towards a more positive outlook in the second half of 2024.
- Business expectations for the manufacturing sector is turning increasingly optimistic as an overall net weighted balance of 22.0% of manufacturers foresee a favourable business situation for all manufacturing clusters for the period between April and September 2024.
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