Singapore September exports seen down, keeping pressure for stimulus

Singapore's exports are expected to have fallen in September due to persistent slack in the global economy.
Singapore's exports are expected to have fallen in September due to persistent slack in the global economy. PHOTO: AFP

SINGAPORE (REUTERS) - Singapore's exports are expected to have fallen in September due to persistent slack in the global economy and as the latest data from China showed renewed weakness in its trade sector, maintaining pressure for more stimulus.

Non-oil domestic exports were predicted to slide 6.0 per cent in September from a year earlier, according to the median forecast in a Reuters survey of 10 economists.

In August, overseas sales stalled with shipments to the United States picking up and exports to China falling less than the previous month.

On a month on month, seasonally adjusted basis, non-oil domestic exports in September were seen up 1.5 per cent. That compared with a 1.9 per cent loss in August.

The trade data came after the central bank on Friday held policy steady despite a surprisingly sharp economic contraction in the third quarter. Analysts say the weak inflation and growth outlook will likely force policymakers to ease further.

China's exports in September fell more than forecast while imports unexpectedly shrank, indicating signs of stabilisation in Singapore's top overseas market may be short-lived.