He notes in his Sept 17 note that Singapore’s NODX performance “significantly” came below both Bloomberg’s consensus forecast of an 0.8% marginal y-o-y growth and Koh’s more cautious projection of 2.5% lower yo-y.
Following the release of Singapore’s August non-oil domestic export (NODX) data, which contracted 11.3% y-o-y, the economist at UOB Global Markets and Global Research (UOB) has lowered his full-year forecasts.
UOB’s Jester Koh has lowered his 2025 forecast range to between a 1% y-o-y decline to a 1.0% y-o-y increase, from a range of 1.0% to 3.0% y-o-y growth previously.
