Singapore's August NODX expected to grow 2.3%

But electronics NODX won’t experience a rebound.

All eyes have been focused on Singapore’s non-oil domestic exports (NODX), as the electronics subsector continued to underperform.

UOB is expecting Singapore’s non-oil domestic exports (NODX) for the month of August to grow 2.3% y/y, rebounding from 3.3% y/y contraction in July.

However, UOB also forecasts that electronics NODX will still be under pressure and may further contract by 7.5% y/y in August, although slightly better than the 7.9% y/y decline in July.