Recession tipped after Singapore exports fall

A decline in Singapore's main exports for the fourth straight month has raised the risk of the region's richest economy falling into a technical third-quarter recession, analysts said Wednesday.
The city-state's non-oil domestic exports (NODX) in August fell 14 percent from the same month last year as shipments for both electronic and non-electronic goods tumbled, the government said.
The August decline worsened from the 5.8 percent dip in July and was bigger than an eight percent shrinkage projected by a Dow Jones Newswires poll of analysts.
Singapore's trade promotion agency, International Enterprise Singapore, said a slowing global economy hurt exports to its key markets such as the United States and Europe.