Singapore July exports drop, raising recession risk
Business Recorder, 17 Aug 2011
SINGAPORE: Singapore's non-oil domestic exports fell unexpectedly in July as electronics shipments contracted for a sixth consecutive month, raising the odds of the city-state sinking into a technical recession.
Singapore's trade agency said on Wednesday non-oil domestic exports fell 2.8 percent last month from a year ago and by a seasonally adjusted 2.3 percent from the previous month.
"There is a real risk that with the kind of weak start we saw in exports in the third quarter, and perhaps in overall manufacturing as well, we could see technical recession being a real possibility," said Song Seng Wun, CIMB's regional economist. Full story
Related:
Singapore's July exports down 2.8% - Sin Chew Jit Poh
Singapore's Non-oil Exports In Surprise Fall - RTTNews
Singapore July Exports Decline 2.8% - Bloomberg
Singapore's key exports fall as fears of looming recession grow - Monsters and Critics