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Singapore's trade forecast dips amidst slower demand in China
NODX predicted to rise by only 1%.
According to Bloomberg's report, Singapore lowered its forecast for exports this year as a slowing expansion in China crimps demand for the nation’s goods, even as services helped the economy grow more than initially estimated last quarter.
Non-oil domestic exports may be unchanged or rise 1 percent this year, compared with a previous forecast of 2 percent to 4 percent, the trade promotion agency said in a statement today. Gross domestic product rose an annualized 15.5 percent in the three months through June from the previous quarter, when it grew a revised 1.7 percent, the Trade Ministry said separately.
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