Economy

Economy: Singapore's non-oil exports fell in May as reboundingpharmaceuticals exports weren't enough to offset a continued slide inelectronics shipments. Exportsfell 4.6% yoy in May , after a 1.0% fall in Apr. The median estimatewas for May exports to contract 0.3%. Compared with the previous month, exports fell 1.1% in seasonally adjustedterms, after expanding 1.1% on month in Apr. Economists hadprojected a median 4.0% expansion. Shipments to the EU, Singapore's biggest export destination, fell 4.3% yoy in May , compared with a 13.4% fall in Apr. Exports to the U.S. fell 0.8% on year after expanding 4.6% in Apr. Exportsto China, however, grew 6.2% after the previous month's 6.2% increase. Electronics exports declined 13.2% on year, after falling 9.0% in Apr,while non-electronics shipments grew 0.2%, compared with a 3.3% rise lastmonth. In the non-electronics sector, pharmaceutical exports rose 19.9%, afterfalling 11.8% in the previous month.