SINGAPORE (Reuters) – Singapore’s financial system contracted barely greater than anticipated within the third quarter from a 12 months earlier, preliminary information confirmed on Wednesday.
Gross home product (GDP) shrank 7% in July-September on a year-on-year foundation, the Ministry of Commerce and Trade mentioned in an announcement. Economists polled by Reuters had anticipated a decline of 6.eight%.
GDP grew 7.9% on a quarter-on-quarter seasonally adjusted foundation in July-September. The commerce ministry mentioned it might solely be reporting non-annualised quarter-on-quarter information from the third quarter, and never beforehand reported annualised information.
(Reporting by Chen Lin; Enhancing by Sam Holmes)
(Solely the headline and film of this report might have been reworked by the Enterprise Customary workers; the remainder of the content material is auto-generated from a syndicated feed.)
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First Printed: Wed, October 14 2020. 10:06 IST