Chart of the Day: Electronics shipments contract

For the third straight month at that.

OSK-DMG Group Economics noted:

Driving NODX higher in October was non-electronics, which surged 12.7% yoy from 3.9% in Sep, underpinned by structures of ships & boats (+148.1% yoy) and electrical circuit apparatus (+37.9% yoy) shipments.

Pharmaceutical exports staged a recovery, rising 2.7% yoy in Oct from -3.0% in Sep, while petrochemical shipments moderated to 4.2% yoy in Oct from 5.2% in Sep. Electronics shipments contracted for the third straight month, albeit at a slower pace of 0.8% in Oct compared to -16.6% in Sep.

In terms of destinations, Malaysia was the only destination among the top 5 to remain in a contraction, down -6.8% yoy in Oct, while the others like the EU, US and Hong Kong staged recoveries or China, which saw stronger growth.