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Singapore's Sept exports seen down, keep pressure for stimulus

Friday, October 14, 2016 - 14:14
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Singapore's exports are expected to have fallen in September due to persistent slack in the global economy and as the latest data from China showed renewed weakness in its trade sector, maintaining pressure for more stimulus in the city state.

[SINGAPORE] Singapore's exports are expected to have fallen in September due to persistent slack in the global economy and as the latest data from China showed renewed weakness in its trade sector, maintaining pressure for more stimulus in the city state.

Non-oil domestic exports were predicted to slide six per cent in September from a year earlier, according to the median forecast in a Reuters survey of 10 economists.

In August, overseas sales stalled with shipments to the United States picking up and exports to China falling less than the previous month.

On a month-on-month, seasonally adjusted basis, non-oil domestic exports in September were seen up 1.5 per cent. That compared with a 1.9 per cent loss in August.

The trade data came after the central bank on Friday held policy steady despite a surprisingly sharp economic contraction in the third quarter.

Analysts say the weak inflation and growth outlook will likely force policymakers to ease further.

China's exports in September fell more than forecast while imports unexpectedly shrank, indicating signs of stabilisation in Singapore's top overseas market may be short-lived.

REUTERS