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Singapore October exports unexpectedly fall 3.1% y-o-y shipments drop

Singapore's October NODX unexpectedly fell 3.1% from a year earlier, coming in well below forecasts, as both electronics and non-electronics shipments dropped

Topics
Singapore | Singapore economy | Exports

Reuters  |  SINGAPORE 

An aerial view of shipping containers stacked at the port of Singapore. Photo: Reuters
An aerial view of shipping containers stacked at the port of Singapore. Photo: Reuters

(Reuters) - Singapore's October non-oil domestic (NODX) unexpectedly fell 3.1% from a year earlier, coming in well below forecasts, as both electronics and non-electronics shipments dropped, official data showed on Tuesday.

The figure missed a 5.7% rise forecast by economists in a Reuters poll, and compared with a slightly revised 5.8% increase in September.

On a seasonally adjusted month-on-month basis, decreased 5.3% in October after an 11.4% contraction the previous month, Enterprise said in a statement.

Economists had forecast a 4.6% rise.

 

(Reporting by Aradhana Aravindan in Singapore; editing by Richard Pullin)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Tue, November 17 2020. 08:05 IST
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