Exports industry struggle amidst last month’s 6% expansion

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Exports industry struggle amidst last month’s 6% expansion

Singapore Business2021-08-19

The decline in electronics is seen as one of the culprits. Despite a 6% expansion in June, the exports industry showed signs of decline this month. Moody’s Analytics points to the global ...

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WYYAP
·2021-08-19
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There is demand, but still supply is yet to grow as well. It is because of this that electronics face a decline.\nAdditional disruptions include the rise of COVID-19 cases in Asia. Lockdowns and tighter travel mean the closing of factories and delayed shipments. China’s zero-tolerance approach towards new infections also increases the number of movement controls that are done in response to the pandemic.\nNon-oil domestic exports also faced a lower growth at 12.7% year-on-year, compared to 19 June.\nHowever, Singapore continues to show improvement in Purchasing Managers' Index data with a slight uptick from 50.8% in June to 51 in July. This is the strongest reading since 2018, but in spite of this, supplier delivery times legenthend from June to July, with electronics following suit.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5576905,"gmtCreate":1629358263442,"gmtModify":1663232601741,"authorId":3560402226461385,"author":{"id":3560402226461385,"idStr":"3560402226461385","authorId":3560402226461385,"name":"ericokh","avatar":"https://static.tigerbbs.com/4b5f2c2754be94d2d5444fafc4c7ccbc","vip":1,"crmLevel":5,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":838018785,"type":1,"supId":0,"prevId":0,"content":"like pls","text":"like pls","html":"like pls"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":7,"commentSize":1,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}