Singapore non-oil exports seen contracting in October: Reuters poll

[SINGAPORE] Singapore's non-oil exports are expected to contract in October from a year earlier, after two months of expansion, because of the slowing global economy, a Reuters poll found on Thursday.

Overseas shipments in October are estimated to have fallen 1.5 per cent from a year earlier, the poll of 11 economists found, compared with 0.9 per cent growth in September and 6.0 per cent growth in August.

On a month-on-month and seasonally adjusted basis, exports in October were forecast to have grown 0.2 per cent, the poll showed. In September, overseas shipments fell a seasonally adjusted 8.8 per cent from the previous month.

Singapore's manufacturing activity expanded at the fastest pace in 3-1/2 years in October, while other Asian countries'factory output grew more slowly.

REUTERS