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Singapore March exports likely climbed marginally from last year: Reuters poll

Reuters  |  SINGAPORE 

(Reuters) - Singapore's likely rose marginally in March from a year earlier, a poll showed on Friday, indicating that a strong growth in offset a high-base effect from last year.

are expected to have risen 0.2 percent last month from a year earlier, according to the median forecast in a survey of 10 economists.

"Electronics exports will likely return to positive growth after three consecutive months of decline, given the continued strength in manufacturing output numbers in the first two months of the year," said economist, Ye.

Activity in factories expanded at a faster pace in March as the electronics sector rebounded, a Institute of Purchasing & Materials Management's (PMI) survey showed earlier this month.

The marginal rise in monthly shipments is seen after the city-state's year-on-year exports fell 5.9 percent in February, compared with a 12.9 percent surge in January.

Exports came under pressure as February had fewer days with the Lunar New Year holidays in the middle of the month. Last year, the holidays were in January.

"March data will be closely watched since it is the first clean reading after Lunar New Year festivities affected January and February data," said in a research note.

On a month-on-month and seasonally adjusted basis, were seen climbing 4.7 percent, the poll showed, after contracting 2.6 percent in February.

(Reporting by Fathin Ungku; Editing by Amrutha Gayathri)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, April 13 2018. 13:47 IST