Don't count on positive NODX growth in 2013

Grim prospects given tanking PMI readings.

According to Maybank Kim Eng's analysis after the release of September NODX data, manufacturing PMI readings for new export orders moderated sharply to 51.1 (Aug 2013: 53.4) as its sub index of new exports order for electronics dropped to 51.7 (Aug 2013: 54.0).

"The slowdown in the pace of expansion in PMI readings could be reflected in upcoming NODX figures. If this proved to be true, prospects of seeing positive NODX growth in 2013 continue to be bleak. And this is despite some improvements seen in Asian export growth in response to the modest demand pickup in G3 economies," said Maybank.

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