Economy

Economy: Exports continue to slide as global backdrop dims economic prospects
- Singapore’s export slump continues relatively unabated as non-oil domestic exports (NODX) fell 7.9% in Apr, in line with the street’s expectations
- Decline follows a 15.7% plummet in Mar
- Except for the EU (+20.6%) and Hong Kong (+13.5%), shipments to the other eight major markets fell
- Sets a poor start to 2Q16 even after the MAS eased monetary policy by abandoning a steadily appreciating SGD