Macroeconomic Forecast Singapore

Singapore's export sector continued to show signs of stabilization. Indeed, non-oil domestic exports (NODX) posted an increase of 5.6% on a seasonally-adjusted month-on-month basis in May, as compared to a 1.4% decrease in the previous month. While the upturn in the export figures is encouraging, it is still too early to say if a sustained recovery has begun, given that Singapore's key trading partners are still reeling from the effects of the global recession.

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