Singapore’s 3Q GDP Revises Higher But Still Little To Cheer

Economic Research	24 November 2016
Singapore
Economic Highlights
Singapore’s 3Q GDP Revises Higher But Still Little To Cheer Singapore’s 3Q GDP growth was revised higher to -2.0% q-o-q, SAAR, from -4.1% earlier and compared with +0.1% in 2Q. Y-o-y, Singapore’s real GDP expanded 1.1% in 3Q, slowing from a 2.0% gain in 1H. Public consumption eased, while government spending and fixed assets investments contracted, contributing to the slowdown. However, exports improved, cushioning some of the downside. By industry, the manufacturing sector eased marginally, while the slowdown in services and construction activities were sharper. Going forward, in light of the accumulating risks to global economic growth, we maintain our projections for Singapore’s GDP to expand 1.2% in 2017, from an estimated 1.4% this year Economist:  Ng Kee Chou | +603 92802179