Weaker electronics exports to weigh on Singapore NODX in coming months: economists

THE slowdown in Singapore’s electronics shipments, which in August contracted for the first time in nearly 2 years, is likely to continue weighing on the city-state’s non-oil domestic exports (NODX) in the coming months, economists said.

“We are still cautiously positive on the outlook for some segments of manufacturing but we are also cognisant of a potentially much slower electronics performance and weaker demand from North Asian economies that could increasingly weigh on NODX momentum and manufacturing demand,” said UOB senior economist Alvin Liew.

This adds on to the concerns that global demand is heading towards a downturn on the back of more aggressive monetary policy tightening, he added.