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Singapore GDP shrinks 7% in third quarter, more than forecasts

Singapore's economy contracted slightly more than expected in the third quarter from a year earlier, preliminary data showed on Wednesday.

Singapore | Gross domestic product | Global economy

Reuters  |  SINGAPORE 

Representative image
Representative image

(Reuters) - Singapore's contracted slightly more than expected in the third quarter from a year earlier, preliminary data showed on Wednesday.

(GDP) shrank 7% in July-September on a year-on-year basis, the Ministry of Trade and Industry said in a statement. Economists polled by Reuters had expected a decline of 6.8%.

GDP grew 7.9% on a quarter-on-quarter seasonally adjusted basis in July-September. The trade ministry said it would only be reporting non-annualised quarter-on-quarter data from the third quarter, and not previously reported annualised data.


(Reporting by Chen Lin; Editing by Sam Holmes)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Wed, October 14 2020. 10:06 IST