688 views

Electronic sector to recover in 2024

The industry was improved by the rise of AI.

The electrical and electronics sector may have improved due to the AI boom but its recovery will likely move to 2024, broker, CGS-CIMB, said.

The statement stemmed from the recent inflation figures, with manufacturing figures improved due to electronics.

"We cut our 2023 GDP forecast to 0.9% YoY on weak 1H23 growth, sluggish trade outlook, and our cautious stance on the external and electronic sectors," read the brokerage report.

The semiconductor industry, specifically, will see a prolonged demand weakness and may record extended period of decline. It sector recovery will reach only in 2023.

Singapore's central bank reported that the core and headline inflation decelerated further to 3.8% yoy and 4.1% yoy, respectively, compared with the previous month.

Follow the links for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

ION Orchard marks 15 years as a premier retail destination
The mall is proactive in conducting surveys to identify trends and optimise its tenant mix.
Retail
ION Orchard leads charge in sustainable takeaway practices
 Shoppers will enjoy discounts when they opt for a reusable mug or food container from Muuse.
Lendela on why banks need fintechs to buoy loan growth
Loan demand has doubled in Singapore, and fintechs can help onboard quality clients.