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🌏 Brazil's external accounts are self-financing while Singapore's semiconductor output rolls over

🌏 Brazil's external accounts are self-financing while Singapore's semiconductor output rolls over

Brazil's May FDI hit $7.97bn against a $5.75bn forecast, the current account came in under consensus, and unemployment held at 5.6%. Singapore industrial production decelerated to 13.0% year on year from 16.5%, with a monthly contraction that looks like a cycle turn.

Robotic arm holding a circular silicon wafer inside semiconductor manufacturing equipment.
Singapore's May industrial production grew 13% year-over-year, missing the 17% consensus forecast and underscoring a slowdown in manufacturing during a sparse EM data window. Source

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