, Singapore
Chart from UOB

Has the electronic trade cycle bottomed out? 

On a 6MMA YoY basis, electronic NODX has exhibited incrementally narrow contractions.

Experts believe the electronics cycle has bottomed and expect a recovery in the coming quarters due to base effects.

Data from UOB showed that on a 6MMA YoY basis, electronic NODX has exhibited incrementally narrow contractions from -22.7% YoY in August to -16.0% YoY in November.

UOB also noted that export performance in the electronics and semiconductor powerhouses, South Korea and Taiwan, continued to record improvements.

In South Korea, exports expanded 7.7% YoY in November, whilst Taiwan recorded a 3.8% YoY growth in its exports in the same month.

Meanwhile, Singapore’s November electronics PMI turned positive for the first time since July 2022, with a reading above the 50 threshold at 50.1.

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