Singapore exports likely +20% on-year in July: Poll

Written by The Edge


Monday, 16 August 2010 16:14

Singapore’s July non-oil exports likely +20% on-year vs +28.7% June; pace easing on faltering global economy, according to median estimate of six analysts in Dow Jones poll.

On month, July exports likely to decline 2.7% in seasonally adjusted terms, after having shrunk 0.1% in both May and June.

“We are looking for a third consecutive month of sequential contraction in July with one difference — a deeper contraction compared to May and June,” Standard Chartered Bank economist Alvin Liew writes in note.

Liew adds, weaker exports “performance should be driven by a marked moderation in pharmaceutical exports. That said, the volatile pharmaceutical could still swing either way”.

Data due tomorrow 1:00 p.m.