Singapore – 3Q 2018 GDP (Advance)
12/10/2018 09:57 am MYT
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Based on advanced estimates, the Singapore economy grew by 2.6%, year-on-year, in 3Q 2018 – see figure 1. Growth in the manufacturing sector slowed to 4.5%, with output in most manufacturing clusters recorded slower growth. Meanwhile, the construction sector contracted by 3.1% from a year ago, weighed down by a decline in public sector construction activities.

The services-providing industries expanded by 2.9% (see table 1), supported by the finance & insurance, business services and wholesale & retail trade sectors.

On a quarter-on-quarter seasonally adjusted annualised basis, real GDP increased by 4.7% in 3Q 2018. All sectors expanded at a faster pace than the preceding quarter – see table 2.

 

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Note from Publisher
The much-awaited talk between president Xi Jinping and Donald Trump at the G-20 Summit in Buenos Aires ended with a tariff truce between the two economic giants. The US stock markets rallied in response. However, the rally was short-lived when the markets realised that there are still many uncertainties in the trade conflict between the two countries. In addition, a section of the US yield curve became inverted for the first time in more than a decade, signaling a potential recession in the US economy.

i Capital has advised subscribers since last year to watch the US yield curve carefully and it has also asked a number times whether the US economy is about to enter into a recession. Although chairman Powell has caved in to Trump’s crude bullying, the threat of the US yield curve fully inverting and a 2019 US recession has not subsided.

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