Singapore has avoided a technical recession in Q3
®Copyright MediaCorp
Singapore has avoided a technical recession last quarter, after the government revised its second quarter GDP upwards.
A technical recession is defined as two consecutive quarters of contraction.
The Trade and Industry Ministry also said Singapore is on track to grow by 1.5 to 2.5 percent for the whole of this year.
According to the latest flash estimates, the economy contracted by 1.5 percent in the third quarter, compared with a revision of 0.2 percent rise in Q2.
The weak performance in Q3 was due to a contraction in the manufacturing sector, particularly in the electronics segment.
On a year-on-year basis, the economy grew at a modest pace of 1.3 percent.
The manufacturing cluster, which accounts for a quarter of the economy, grew 0.7 percent, from a year ago, while the services sector output grew over 1 percent.
MORE SINGAPORE NEWS
- ATTC appointed national CET centre for aerospace industry
- No injuries reported in late night factory fire at Tuas Basin Link
- Shane Todd's death consistent with asphyxia due to hanging: pathologists
- S'pore, Japan prime ministers express wish for enhanced bilateral ties
- Shane Todd's family quit inquiry, discharge lawyers
- Singapore, UAE to widen bilateral cooperation
- More S'poreans performing Umrah pilgrimage this June
- Mozzie-Free Homes @ North West launched
- More holistic eldercare policy needed: study
- Shane Todd's inquiry adjourned after family walked out of court
- NTU, Lund University bioengineer molecule which can kill tumour cells
- Expert witness retracts opinion that Shane Todd was garrotted
- Xtron director testifies City Harvest controls firm
- New voluntary programme to train public to provide care services to victims
- All CPF members to receive 2.5% interest rate on Ordinary Accounts
- Judges in Subordinate Courts to wear robes in open court hearings
- Man arrested for suspected involvement in void deck fire
- IMDEX Asia 2013 attracted record number of participants, VIP delegations
- Myanmar parliamentarians in S'pore to study governance model
- Football: Singapore looks forward to Atletico Madrid showcase
Latest Photo Galleries on xinmsn
- Shared
- Viewed
NEWS VIDEOS
938LIVE SINGAPORE NEWS
sitemap
- Entertainment
- Asia Celeb News
- Hollywood Buzz
- Korean Buzz
- Celeb Interviews
- Celeb Bios
- Celeb Blogs
- Photo Galleries
- Music Reviews
- Movies
- xinFirst Webisodes
- TV Channels
- Channel 5
- Channel 8
- Channel U
- okto
- Suria
- Vasantham
- Radio
- 938LIVE
- 987FM
- Class 95FM
- Gold 90.5FM
- Lush 99.5FM
- Symphony 92.4FM
- Capital 95.8FM
- Love 97.2FM
- Y.E.S. 93.3FM
- Ria 89.7FM
- Warna 94.2FM
- Oli 96.8FM
- XFM 96.3FM
- Lifestyle
- Beauty & Fashion
- Food
- Going Out
- Health
- Relationships
- Travel
- Work Life
- Style
- Style:Men
- Style:Weddings
- Style:Living
- i-Weekly i周刊
- 8 DAYS
- Timepieces
- FHM
- Manja
- Mother & Baby
- Elle
- Postbox
- News
- Singapore
- World
- Regional
- Sci-Tech
- Weird
- Business
- News Videos
- Sports
- Local Sports
- BPL
- World Football
- Formula One
- NBA
