Published:
Non-oil domestic export may have moderated to 12.3% in February 2011
Export figure is expected to decrease following a robust expansion of 20.8% in the previous month.
According to DBS, seasonal effect, specifically the CNY slowdown in production output is responsible for this pullback.
Though key electronics and pharmaceutical exports appear to be in a soft patch over the last two months, DBS reckons that this will not last for long. Despite the ongoing worries on high oil prices derailing growth, PMIs of key markets have remained in the expansion zone. And recovery in the US is solidifying with increasingly strong consumption data.
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