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Singapore's NODX makes a surprise 17.6% growth in March, but economists say a slowdown is just around the corner

Amala Balakrishner
Amala Balakrishner4/17/2020 12:44 PM GMT+08  • 3 min read
Singapore's NODX makes a surprise 17.6% growth in March, but economists say a slowdown is just around the corner
“With the one-month circuit breaker and the rising probability of an extension, there may still be downside to come for domestic economic indicators as economic activity has been restricted to only essential services,” says OCBC’s Selena Ling.
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SINGAPORE (Apr 17): Singapore’s non-oil domestic exports (NODX) expanded by 17.6% in March, following the 3% growth from February, according to official figures released by trade agency Enterprise Singapore (ESG) on Friday.

The news comes despite expectations of a slowdown from the Covid-19 outbreak.

Singapore’s March export figures also beat the 8.9% contraction forecast by private-sector economists in a Reuters poll – who predicted a decline as movement control restrictions crimps business activity.

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