This is mainly domestic demand driven, we are seeing only a slow reaction on the exports side, but imports have posted a much stronger sequential expansion.

Vaninder Singh

Categorized in : Technology

Overall, what is clear to us is that the impact, will be limited in the near-term, but much more significant in the medium-term, we expect this event and what it represents to subtract as much as 0.3 percent from growth next year compared to our pre-event baseline and expect Asian central banks to respond with another round of easing.

The electronics exports has fallen despite a very supportive base from last year. That suggests that to an extent the global impact is starting to come to Singapore now, especially what we are seeing in China.