US
· The U.S. Commerce Department on Friday reported that new orders for durable goods—airplanes, industrial machinery and other products that are designed to last at least three years—decreased a seasonally adjusted 2.2% in May from the prior month. That was a sharper fall than the 0.4% decline that economists had expected.
UK
· U.K. vote to exit the European Union rocked global financial markets, a sign of corporate caution that will likely continue to act as a brake on the economy.
Singapore
· Factory output rose for the third consecutive month in May, albeit at a slower pace than April, boosted by a continued surge in pharmaceuticals and semi-conductors. Industrial production grew 0.9 per cent year-on-year last month, showed data from the Economic Development Board (EDB), compared with April's revised 3 per cent increase. Excluding biomedical manufacturing, output fell 2.3 per cent.
Source: WSJ, Todayonline, Phillip Securities Research (Singapore)
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