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Singapore: Strengthening NODX growth in July: None-20260819
野村证券· 2026-08-19 18:09
Economics - ASEAN/Asia ex-Japan Singapore: Strengthening NODX growth in July NODX growth rebounded in July NODX growth rose to 24.2% y-o-y in July (Consensus: 26.5%; Nomura: 27.5%) after easing to a still-strong 20.8% in June, though this was largely due to softness in volatile pharmaceutical and non-monetary gold exports (see First Insights - Singapore: NODX growth held up in June , 17 July 2026). In sequential terms, this implies NODX growth improved to -0.3% m-o-m sa from -8.8%. … boosted by broadening A ...