Singapore’s 3Q GDP up 0.6% on year in advance estimates

SINGAPORE (Oct 14): Singapore’s economy expanded by 0.6% in 2Q16 from a year ago, based on advance estimates by the Ministry of Trade and Industry (MTI), easing significantly from the 2% growth registered in the previous quarter.

The latest year-on-year figure is also notably lower than the 1-2% as forecasted by MTI and Deputy Prime Minister (DPM) Tharman Shanmugaratnam last month. On a quarter-on-quarter seasonally-adjusted annual basis, Singapore’s economy reversed from the 0.2% growth in the preceding quarter to contract by 4.1% in 3Q.

(See also: Singapore’s economy grew 2.1% y-o-y in 2Q; full year GDP forecast cut to 1-2%)

---

Related Stories

• Can SGX afford to wait up to a year for reforms?
• Institutions to edge further into digital finance, focus on risk mitigation: Moody’s Ratings
• RHB raises target price for SGX to $12.80 from $11.40, citing higher than expected trading volume

---