Export data from Singapore for August

  • Non-oil domestic exports flat y/y (0.0 pct y/y change against a Reuters expected of -4.1 pct)
  • NODX did fall for the m/m, thou: -1.9% m/m seasonally adjusted (Reuters expected was -2.9 pct)

Breaking it down by region:

  • NODX to china -5.4 pct y/y vs -16.6 pct y/y in July
  • +4.8 pct y/y to the US vs -19.1 pct y/y in July
  • To Europe -15.6 pct y/y vs +3.0 pct y/y in July

Those results are a bit all over the place. Overall exports not as poor as expected, which is something I guess. The US appears to the global economic powerhouse at present. The cleanest dirty shirt, right?