Den første positive økonomiske melding under coronakrisen kommer fra Singapore, der har haft en stigning i eksporten i februar på 3 pct. mod et forventet fald på 7 pct. Singapore er et af de lande, der mest effektivt har begrænset coronasmitten.
Uddrag fra ING:
Singapore: The economic data is yet to reveal the Covid-19 impact. Released this morning, non-oil domestic exports surprised with a 3% YoY growth in February, beating the consensus of about 7% fall in the month. Electronics was a source of upside miss in the headline; a 2.5% growth was the first positive in over a year and in stark contrast to the consensus of 17% YoY fall. Pharmaceuticals also helped with strong gains. This leaves NODX in the first two months almost flat at the level a year ago. We believe the Monetary Authority of Singapore will see through the positive data and join the global central bank easing bandwagon.
Grafen viser, at et par sydøstasiatiske lande har været særdeles effektive med at begrænse corona-smittet.
General Asia: The panic selling in global markets persists as coordinated central bank action failed to calm investors worried about a deeper economic slump due to Covid-19. The Fed’s second round of emergency easing over the weekend sent a worrying message for the markets. It also sent its global peers into a fire-fighting mode. However, the main worry seems to be the central banks running out of policy space needed to combat the impact of the virus. And this now calls for a coordinated fiscal response by the governments.
