Economy

Economy: Exports post surprise 11.6% rebound
- NODX jumped 11.6% in May (Apr: 7.9% decline), ahead of economists' expectation for a 2.3% decline.
- Rebound led by a surge in exports of non-electronic shipments (+19%), which outweighed the decline in shipments of electronic products (-6%).
- Positive contributions from US, Taiwan and Malaysia, but regional markets were lacklustre including China, South Korea, Hong Kong and Japan.
- In May, trade agency International Enterprise Singapore cut its NODX forecast for 2016 to -3% to -5%, from its earlier projection of a 0% to 2% expansion, amid weak global demand.