SINGAPORE EXPORT PREVIEW: Economists Unanimous in Calling a Drop
Source: BFW (Bloomberg First Word)
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(Bloomberg) -- Singapore’s non-oil domestic exports likely shrank for a third consecutive month in Jan., weighed down by weaker global demand, economists forecast.
Alert: HALISTER1- Shipments probably declined 7.6% following a 7.2% drop in Dec., median est. in Bloomberg survey shows; ests. range from -11.6% to -2.8%; data due at 8:30am local time tomorrow
- Exports to China fell 18.7% y/y in Dec., second-biggest drop among island’s top trading counterparts; exports to Korea fell the most
- Singapore’s PMI slid to 49.0 in Jan. from 49.5 in Dec., marking seventh straight month reading has been below 50
- USD/SGD advanced 0.4% in Jan.; up 0.1% today to 1.4016
Source: BFW (Bloomberg First Word)
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