Halister News

(Bloomberg) -- A weak global environment will probably keep Singapore’s non-oil domestic exports under pressure in April, judging by economists’ forecasts.

• Exports probably fell 7.9% y/y following a 15.6% decline the previous month, median est. in Bloomberg survey shows; if confirmed it will be fifth month of contraction in past six
  • Estimates range from -10.0% to -1.0%; data due 8:30am local time tomorrow
  • Island’s electronics exports fell 5.8% y/y last month from -9.1% in March, according to a separate survey
• Singapore 1Q GDP growth was flat compared with previous three months, data released on April 14 showed; MAS responded by easing monetary stance that day by moving to zero currency appreciation in its trade-weighted basket
  • SGD fell 0.9% to 1.3507 per dollar that day, though finished the month up 0.3%; the currency has risen 3.3% so far this year, now at 1.3716