Some solid numbers from Singapore, m/m and y/y are both beats

  • +4.3 pct m/m seasonally adjusted (Reuters poll +0.2 pct)
  • +11.8 pct y/y (Reuters poll +6.7 pct)

On some of the destinations:

  • Singapore July NODX to United States +33.7 pct y/y
  • to China flat from year earlier
  • to Europe +20.1 pct y/y

Huh … if Singapore was a 'canary in the coalmine' for the global economy you'd be impressed with the plumpness of the little songbird, yeah?

Good umbers indeed. Maybe the impact of the trade wars will kick in more forcefully in August?

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NODX is non-oil domestic exports