17 Jan '13, 1am

Singapore Exports Decline Most in 14 Months as Recovery Delayed - Bloomberg

Singapore Exports Decline Most in 14 Months as Recovery Delayed - Bloomberg

Singapore ’s exports declined the most in 14 months in December as manufacturers shipped fewer electronics and pharmaceuticals, hurting economic recovery. Non-oil domestic exports slid 16.3 percent from a year earlier, after a revised 2.6 percent drop in November, the trade promotion agency said in a statement today. The median of 18 estimates in a Bloomberg News survey was for a 7.6 percent decline. The drop was the most since October 2011, based on previously reported data. Exports rose 0.5 percent in 2012, the worst performance in three years, according to Bloomberg calculations. The World Bank this week lowered its global growth forecast for 2013 as austerity measures, high unemployment and low business confidence weigh on developed economies. The decline in shipments in December raises the possibility that the island slid into a recession last quarter, in contrast to ...

Full article: http://www.bloomberg.com/news/2013-01-17/singapore-export...

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