October Non-oil domestic exports (NODX) data from Singapore
-5.3% m/m and -3.1% y/y
- expected were +2.7% m/m and +5.1% y/y, so a big miss
- priors -11.4%, +5.8% respectively
The second consecutive m/m fall. The second wave impact is weighing on SG exports.
NODX:
- -28% m/m to Europe
- +16% m/m to the US though
Total exports fell by 8.6% in October y/y
- prior -2.1%
Total imports -9.3% y/y
- prior -1.6%
The SGD has slipped a little since the data:
