Monday, November 17, 2008

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Singapore Economic Outlook: Singapore October Exports Fell 7.4%, worse than expected

Singapore's non-oil exports fell an unexpected 7.4% in October from the previous month after seasonal adjustments, the latest evidence that the worsening financial crisis has reduced demand for Asian exports. Electronics shipments fell by 15% from a year ago while drugs exports fell unexpectedly, down 38.9% in the same period
October's fall compared with market expectations for marginal growth of 0.3 per cent, and followed a worse-than-expected revised 0.9 per cent drop in September.

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