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Singapore November exports seen expanding from year earlier
[SINGAPORE] Singapore's non-oil domestic exports probably grew in November from a year earlier, when sales of pharmaceuticals were poor, with the comparison against a low base helping shipments recover from October's contraction.
The median forecast in a Reuters poll of 10 economists was for a 3.7 per cent rise in exports in November from a year earlier. In October, there was a 1.5 per cent annual contraction.
In November 2013, non-oil domestic exports tumbled nearly 9 per cent as pharmaceuticals exports almost halved from a year earlier.
On a month-on-month and seasonally adjusted basis, exports in November were forecast to have risen 0.2 per cent, the poll showed. In October, overseas shipments rose a seasonally adjusted 1.1 per cent from the previous month.
Growth in Singapore's manufacturing activity slowed in November after October's strongest expansion in 3-1/2 years, as export orders for electronics products shrank, a private survey showed on Dec 2.