Singapore September exports seen down for 3rd month

Singapore September exports seen down for 3rd month
PHOTO: The Straits Times

SINGAPORE - Singapore's non-oil domestic exports in September likely contracted for a third consecutive month from a year earlier as global demand faltered, a Reuters poll showed.

Non-oil domestic exports (NODX) in September were expected to drop 3.8 percent from a year earlier, according to the median forecast of 13 economists in the survey.

Overseas sales fell 8.4 percent in August, after a 0.7 percent dip in July.

On a month-on-month seasonally adjusted basis, exports in September were seen rising 0.8 percent from August, the poll showed. That compared with a 4.6 percent contraction in August.

Activity in Singapore factories shrank in September for the third straight month and fell to the lowest level in nearly three years, a survey showed earlier this month.

Singapore's central bank eased monetary policy for the second time this year and warned of downside risks to growth after its economy narrowly avoided a recession in the third quarter.

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