July NODX slide improves but no rebound in sight
11.2% fall outperforms forecasts; but double-digit tumble is fifth consecutive retreat
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Singapore
EXPORT recovery is nowhere in sight for trade-dependent Singapore even as the country's latest key non-oil domestic exports (NODX) performed better than expected.
While last month's 11.2 per cent year-on-year fall in the NODX was not as bad as the median 15.4 per cent decline which private-sector economists had estimated - and less than the 16.3 and 17.4 per cent drop in May and June respectively - it's still a double-digit decrease, the fifth straight monthly double-digit decline, that indicated exports remained weak.
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