RHB | Singapore | NODX Declined By A Smaller Magnitude, Economic Growth Will Likely Improving

Economic Research	19 August  2014
Singapore
Economic Highlights
NODX Declined By A Smaller Magnitude, Economic Growth Will Likely Improving Singapore’s non-oil domestic export (NODX) contracted at a slower pace of 3.3% y-o-y in July, from -4.6% in June 2014 and -6.6% in May. The number was slightly better than consensus expectation of -4.0%, pointing to improving economic growth in the 3Q amid slow global economic recovery that has yet to make a more meaningful impact on the countrys’ NODX. Economist:  Singapore Research  | +65 6533 0781