Economists raise full-year NODX growth forecasts despite disappointing July reading

Economists have raised their full-year forecasts for Singapore's non-oil domestic exports (NODX) growth despite July's reading missing expectations, citing sustained AI-related demand for electronics. NODX grew 24.2% year on year in July, extending a 20.8% rise in June and marking a fifth straight month of double-digit growth.

Economists raise full-year NODX growth forecasts despite disappointing July reading AI-related demand expected to continue to support electronics shipments after a strong H1 performance SINGAPORE Economists have raised their full-year forecasts for Singapore’s key export growth, even after July’s non-oil domestic exports NODX reading came in below expectations. Their forecasts were escalated on expectations that artificial intelligence-related demand will continue to support the electronics sector. NODX grew 24.2 per cent year on year in July, extending a 20.8 per cent rise in June and marking a fifth straight month of double-digit growth.