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Financial News: Singapore NODX Surges More Than Forecast In October

Singapore NODX Surges More Than Forecast In October

11/16/2017 - 23:33:00 (RTTNews)

(RTTNews) - Singapore's non-oil domestic exports grew at a faster-than-expected pace in October, data from the International Enterprise Singapore showed Friday.

NODX surged 20.9 percent year-over-year in October, reversing a 1.1 percent fall in the previous month. Economists had expected a 11.9 spike for the month.

The strong rebound in October was due to the growth in both electronic and non-electronic exports.

Exports of electronic products rose 4.5 percent annually in October, in contrast to a 8.0 percent decline in the prior month.

At the same time, non-electronic NODX jumped 28.5 percent yearly in October, much faster than the 1.9 percent gain in the previous month.

On a monthly basis, NODX advanced a seasonally adjusted 12.5 percent from September, when it plunged by 11.0 percent.

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