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The economy of Singapore advanced 0.5 percent year-on-year in the third quarter of 2019, well above the upwardly revised 0.2 percent expansion for the previous quarter and matching expectations, a final reading showed. As a result of the favourable reading, the Ministry of Trade and Industry narrowed the 2019 GDP growth forecast to “0.5 to 1.0 percent” from “0.0 to 1.0 percent”.

The economy of Singapore advanced 0.1 percent year-on-year in the third quarter of 2019, the same pace as in the previous period but missing market consensus of a 0.2 percent expansion, an advance estimate showed. This remained the weakest growth rate since the second quarter of 2019, when the economy shrank 1.2 percent, amid a further contraction in manufacturing output and a slowdown in the services and construction activities. On a quarter-on-quarter seasonally-adjusted annualised basis, the economy grew by 0.6 percent in the three months to September, after a downwardly revised 2.7 percent contraction in the second quarter and below expectations of a 1.5 percent expansion.

The economy of Singapore advanced an annual 0.1 percent in the second quarter 2019, unrevised from a preliminary figure and slowing sharply from a 1.1 percent expansion in the previous period, final data showed. This marked the lowest growth rate since the second quarter 2009, mainly weighed down by a slump in manufacturing output. On a quarter-on-quarter seasonally-adjusted annualised basis, the economy shrank 3.3 percent, compared to the preliminary figure of a 3.4 percent contraction and reversing from a 3.8 percent growth in Q1. It was the steepest quarterly contraction since Q3 2012 when the reading showed a 4.1 percent fall. Meantime, amid escalations in global trade tensions and a struggling manufacturing sector, the Ministry of Trade and Industry revised lower 2019 GDP growth forecasts to be in a range of 0 to 1% from an earlier projection of 1.5 to 2.5%, with growth expected to come in at around the mid-point of the forecast range.

The economy of Singapore advanced 0.1 percent year-on-year in the second quarter of 2019, slowing from a downwardly revised 1.1 percent expansion in the previous period and well below market forecasts of a 1.1 percent rise, an advance estimate showed. It was the weakest growth rate since the second quarter of 2009, when the economy contracted 1.2 percent, as the manufacturing sector shrank further and construction output eased. On an quarterly basis, the GDP shrank 3.4 percent, the steepest contraction since the third quarter of 2012, after growing 3.8 percent in the prior period and missing market expectations of a 0.1 percent expansion.

The economy of Singapore grew an annual 1.2 percent in the first quarter of 2019, following a 1.3 percent expansion in the previous three-month period and missing market expectations of 1.5 percent, final data showed. It was the slowest growth rate since Q2 2009, dragged by a contraction in manufacturing.

The economy of Singapore grew an annual 1.3 percent in the first quarter of 2019, following an unrevised 1.9 percent expansion in the previous three-month period and missing market expectations of 1.5 percent, advanced data showed. It was the slowest growth rate since Q4 2015, dragged by a contraction in manufacturing.