Sign up | Log in



Home  >>   Daily News  >>  Singapore  >>Economy >> Singapore avoids technical recession as economy grows 1.4% in Q3
NEW UPDATES Asean Affairs  16 October  2015  

Singapore avoids technical recession as economy grows 1.4% in Q3

SINGAPORE: The Republic’s economy expanded by 1.4 per cent in the third quarter of this year from a year ago, the Ministry of Trade and Industry (MTI) said on Tuesday (Oct 14), based on advance estimates.

This was down from the 2 per cent growth, year-on-year, seen in the previous quarter.

On a quarter-on-quarter seasonally-adjusted basis, gross domestic product (GDP) expanded 0.1 per cent in the July to September period. The figure beat economists’ expectations of a 0.1 per cent contraction and avoided a technical recession – defined as two consecutive quarter-on-quarter GDP contractions – which had been widely predicted by analysts.

The quarter-on-quarter growth was also a reversal from the 2.5 per cent contraction in the previous quarter, MTI announced.

The manufacturing sector contracted by 6 per cent on a year-on-year basis in the third quarter, following the 4.9 per cent decline in the previous quarter. The contraction was largely due to a fall in the output of the electronics, biomedical manufacturing and transport engineering clusters.

On a quarter-on-quarter basis, the sector contracted 3.6 per cent, following the 17.4 per cent contraction in the second quarter, MTI said.

The construction sector expanded by 1.6 per cent, down from the 2 per cent growth recorded in the previous quarter. The slowdown was mainly due to weaker private sector construction activities, according to the press release.

On a quarter-on-quarter seasonally-adjusted annualised basis, the sector contracted by 0.8 per cent, a reversal from the 12.4 per cent expansion in the previous quarter.

Growth in the services producing industries came in at 3 per cent, slower than the 3.6 per cent growth in the previous quarter, largely due to a slower pace of expansion in the wholesale and retail trade and finance and insurance sectors, MTI said.

On a quarter-on-quarter basis, the services producing industries expanded at an annualised rate of 0.8 per cent, an improvement from the 0.2 per cent expansion in the previous quarter.

MTI will release the preliminary GDP estimates for the third quarter, including performance by sectors, sources of growth, inflation, employment and productivity, next month.

In a press release on Wednesday morning, the Monetary Authority of Singapore announced that it would ease monetary policy slightly by slowing the pace of the Singapore dollar's appreciation.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories                           October 16 , 2015 Subsribe Now !
• Singapore avoids technical recession as economy grows 1.4% in Q3 Subcribe: Asean Affairs Global Magazine
• September car sales up 3.8 per cent
• Expectations positive for Q4 business prospects
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• Rice imports may reach 1.5 million MT in H1 2016
City's power, telecom cables go underground
Asean Analysis                   October 16, 2015
• Asean Analysis October 16, 2015
Vietnam Eyes Greater International Integration—and that’s Good News for the United States
Advertise Your Brand

Asean Stock Watch  October 15,   2015
• Asean Stock Watch-October 15, 2015
The Biweekly Update
• The Biweekly Update October 16, 2015

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand