Singapore's non-oil domestic exports rise 8.5% in July; UOB upgrades 2017 forecast

SINGAPORE (Aug 17): Singapore’s non-oil domestic exports (NODX) rose 8.5% year-on-year in July, said International Enterprise Singapore, the government agency that promotes international trade.

The growth was lower than a median forecast of 9.1% made by analysts previously and the revised growth of 8.8% in June. The authority attributes July's growth mainly to the continuing strong performance of electronic sector.

In a flash note after the announcement, UOB Global Economics and Markets Research Markets says July’s NODX provides a second month of data support which validates its view.

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