technical recession

Singapore’s manufacturing output has already contracted for seven months since October 2022, driving recessionary risks.

The MTI maintained its full-year GDP growth forecast of between 0.5% and 2.5%, with growth likely to come in around the midpoint.

RHB’s data suggests that Singapore’s economic growth momentum will moderate in 2H2022, avoiding a technical recession in 3Q2022.

"Singapore has a more sophisticated electorate, that isn’t afraid to send a signal to the PAP about its displeasure over the government’s performance even when economic worries weigh heavily on their mind,” says market watcher Leonard Lim.

“GDP growth will eventually recover following the abrupt downshift in the level of activity, but there is significant uncertainty over the depth and duration of this recession,” says MAS.

(Oct 15): Singapore offers a small ray of light in a faltering global economy.

SINGAPORE (Oct 14): The Monetary Authority of Singapore (MAS) has eased the monetary policy “slightly” – the first easing in over three years – amid slowing economic growth.

SINGAPORE (Oct 7): Singapore’s economy likely escaped a technical recession in the third quarter even as growth stayed subdued, weighed down by the prolonged trade dispute between the United States and China, a Reuters poll showed.

Singapore (Oct 7): “Officially Tuas is designed to handle 65 million TEUs (20-foot equivalent units), but I am sure PSA can squeeze a little more out of it if we work hard.” – Prime Minister Lee Hsien Loong, at the groundbreaking of the Tuas Megapor

SINGAPORE (Oct 3): Amid a stagnating economy and low core inflation, the Monetary Authority of Singapore (MAS) is widely expected later this month to ease its monetary policy stance for the first time since April 2016.