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Economic Research

Oct 18 Data Release: Singapore’s Export Growth to Skid in September

Preliminary data reveals that Singapore’s economic growth slowed to 10.3% y/y in Q3, led by a sharp q/q seasonally adjusted annual rate contraction in manufacturing. Given the sector’s reliance on external demand, this result suggests m/m export growth declined in tandem. Plus, the first two months of Q3 saw nominal sequential increases in non-oil domestic exports (NODX), including a sharp 7.5% m/m jump in August, portending a correction in September. RGE anticipates a 4.4% m/m non-seasonally adjusted contraction in[...]

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