According to the Singapore Economic Development Board, Singapore's manufacturing output expanded by 0.5% year-on-year in August, down from a revised 0.8% yearly growth in July. The figure in August has marked the slowest year-on-year growth since September 2021.

Malaysia's Palm Oil Exports Exceed 1M Tons from September 1st to 25th

Data released by a Malaysian independent inspection agency shows that the country's palm oil export volume from September 1st to the 25th reached 1075,389 tons, 18.63% higher than that of the same period in August.

Indonesia Posts Budget Surplus of $7.1B in Jan-Aug

Indonesian Finance Minister Sri Mulyani Indrawati said that the country had a budget surplus of $7.1 billion in the first eight months of this year, equivalent to 0.58% of its GDP, compared with a 2.26% deficit in the same period in 2021. He added that the government was still, however, expecting to pay large energy subsidies in the third and fourth quarters of this year. Indonesia's energy subsidies in 2022 are expected to go up as much as $42.91 billion, more than triple its original budget.

ADB Projects 6.5% GDP Growth for The Philippines in 2022

In its latest Asian Development Outlook report, or ADO report, the Asian Development Bank raises its GDP growth forecast for the Philippines to 6.5% in 2022, the same as forecast in July but up from the bank's April forecast of 6.0%. The growth projection for 2023 remains at 6.3% as monetary policy tightening and accelerating inflation both crimp domestic demand. Inflation is expected to quicken to 5.3% in 2022, up from the July forecast of 4.9% and 4.2% in the April report, underpinned by sharp upward shocks to global energy and commodity prices.