Singapore non-oil export growth seen slower in January

[SINGAPORE] Singapore's non-oil domestic exports in January likely grew from a year earlier but at a slower pace than the previous month, as the city-state continued to suffer from a sluggish global economy.

Non-oil domestic exports (NODX) last month were expected to have risen 1.9 per cent from a year earlier, according to the median forecast in the survey of 11 economists, after expanding 2.3 percent year-on-year in December.

On a month-on-month and seasonally adjusted basis, non-oil domestic exports were seen falling 1.2 per cent in January, reversing from a 0.1 per cent growth in the prior month.

The trade data will be released on Tuesday at 8:30 am (0030 GMT).

Singapore's manufacturing activity in January shrank for a second consecutive month on a further slide in new orders, even though the rate of contraction eased, a survey showed earlier this month.

m/m y/y (seasonally adjusted) ANZ 1.7 3.2 Bank of Tokyo-Mitsubishi UFJ -1.2 2.5 Barclays 0.4 CIMB -5.5 1.9 Credit Suisse -0.5 3.2 DBS 1.5 ING Financial 0.8 1.5 Moody's Analytics 5.0 Oversea-Chinese Banking Corp -1.4 0.1 Royal Bank of Scotland 2.7 United Overseas Bank -12.3 -7.0 Median estimate -1.2 1.9

REUTERS