Economists raise full-year NODX growth forecasts after July’s 24.2% rise
AI-related demand expected to continue to support electronics shipments after a strong H1 performance
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[SINGAPORE] Economists have raised their full-year forecasts for Singapore’s key export growth, even after July’s non-oil domestic exports (NODX) reading came in below expectations.
Their forecasts were escalated on expectations that artificial intelligence-related demand will continue to support the electronics sector.
NODX grew 24.2 per cent year on year in July, extending a 20.8 per cent rise in June and marking a fifth straight month of double-digit growth.
