The Week in Numbers: Trump Roils the Stock Market
Here are some important financial and economic numbers released last week.
Singapore’s non-oil domestic exports (NODX) saw a fall of 0.7% year-on-year in April, after growing for five months straight. The decline in non-electronic exports overshadowed the growth in electronic exports. On a month-on-month seasonally adjusted basis, NODX tumbled by 9.0% in April, following February’s decline of 1.1%.
The UK Government announced last week that it had returned Lloyds Banking Group, a bank it bailed out during the 2008 financial crisis, to full private ownership. The bank said that the “sale has returned £21.2 billion to the taxpayer, £894 million more than the initial investment, including over £400 million in dividends.” The British Government paid £20.3 billion for the bank nine years ago. The government still owns 73% of Royal Bank of Scotland.
Still in the UK, the Office for National Statistics released retail sales figures this week. Retail sales rose 2.3% in April as compared to the previous month. This is the biggest monthly rise since January 2016. On a year-on-year basis, sales were up by 4% as compared to April 2016. Warm weather and the Easter holidays could have encouraged shoppers to go out and spend some moolah.
Interestingly, on Wednesday, the world’s richest people lost US$35 billion collectively after global equity markets were rocked by political turmoil in the US. This was, dubbed the “Trump Turmoil”. Bill Gates, the world’s richest individual with a US$86.8 billion fortune, lost US$1 billion. The Dow Jones Industrial Average fell by 370 points as the turmoil surrounding the Trump administration roiled financial markets around the globe.