Singapore’s NODX likely to improve

In Singapore, non-oil domestic exports growth narrowed down by 0.5% year on year in October. The sector posted 0.3% growth in September. In a year on year basis, the non-oil domestic exports posted a solid growth rate of 1.1% in October.  

"There are emerging signs that point to improved demand in Europe, but the lift we had expected from US remained relatively muted for now. That said, we still believe stronger demand ahead of the holiday season will come in later in the year. The moderate lift from pre-Christmas orders is likely to alleviate weakness from the inventory build up", says Barclays.