> Singapore export data, January: NODX -5.7% m/m (expected +2.6%)

Singapore export data, January: NODX -5.7% m/m (expected +2.6%)

Monday, 18/02/2019 | 00:42 GMT-0

Singapore non-oil domestic exports drop in January

-5.7% m/m (expected +2.6% via Reuters poll)
-10.1% y/y (poll -1.6%)

Exports to:

US down 4.6% y/y
China down 25.4% y/y
Europe down 3.6% y/y

Wobbly trade data from Singapore. January exports recording the biggest y/y decline in two years. Base effects will be one factor, but the falls are despite what was expected to be front-loading of shipments ahead of lunar year. The trend for NODX has been consistently on the weak side, more of the same in this data.