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Quick take: UOB says Nov Nodx strong but not enough to avert 4th full year decline

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Singapore's non-oil domestic exports recovered to post a 11.5 per cent year-on-year jump in November after a 12 per cent plunge in the previous month, according to the latest trade data released by International Enterprise Singapore.

SINGAPORE'S non-oil domestic exports recovered to post a 11.5 per cent year-on-year jump in November after a 12 per cent plunge in the previous month, according to the latest trade data released by International Enterprise Singapore.

Here are some comments from UOB economist, Francis Tan:

"This was a strong about-turn from the previous month's contraction of 12.0 per cent year-on-year.

"We maintain our 2016 Nodx growth forecast of -4.1 per cent, marking the 4th year of full year Nodx decline. Nevertheless, we forecast 2017 Nodx to finally break the contractionary barrier and grow 0.7 per cent (although it is still a very weak growth)."

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