Singapore’s August exports rise 2.7% y/y, miss forecast
Singapore’s August non-oil domestic exports (NODX) expanded 2.7%from a year earlier, official data showed on Friday, the slowest pace since November due to a drop in non-electronics shipments.
The year-on-year export growth was below economists’ expectations in a Reuters poll for a 8.3% rise and compared with 12.7% growth in July.
On a seasonally adjusted month-on-month basis, exports fell 3.6% in August, Enterprise Singapore data showed, versus the prior month’s 0.9% contraction. Economists had forecast 2.4% growth.
Source: Reuters (Reporting by Chen Lin in Singapore; Editing by Jacqueline Wong)