Singapore GDP shrinks 7% in third quarter, greater than forecasts
Singapore’s financial system contracted barely greater than anticipated within the third quarter from a 12 months earlier, preliminary information confirmed on Wednesday.
Subjects
Singapore | Gross home product | International financial system
Reuters |
Final Up to date at October 14, 2020 10:24 IST
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.)
Expensive Reader,
Enterprise Customary has all the time strived laborious to offer up-to-date data and commentary on developments which can be of curiosity to you and have wider political and financial implications for the nation and the world. Your encouragement and fixed suggestions on easy methods to enhance our providing have solely made our resolve and dedication to those beliefs stronger. Even throughout these tough occasions arising out of Covid-19, we proceed to stay dedicated to retaining you knowledgeable and up to date with credible information, authoritative views and incisive commentary on topical problems with relevance.
We, nonetheless, have a request.
As we battle the financial affect of the pandemic, we’d like your assist much more, in order that we will proceed to give you extra high quality content material. Our subscription mannequin has seen an encouraging response from a lot of you, who’ve subscribed to our on-line content material. Extra subscription to our on-line content material can solely assist us obtain the targets of providing you even higher and extra related content material. We imagine in free, honest and credible journalism. Your assist via extra subscriptions will help us practise the journalism to which we’re dedicated.
Help high quality journalism and subscribe to Enterprise Customary.
Digital Editor
First Printed: Wed, October 14 2020. 10:06 IST
