{"id":111596,"date":"2019-10-15T11:00:00","date_gmt":"2019-10-15T04:00:00","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-gdp-grew-0-1-in-q3\/"},"modified":"2019-10-15T11:22:56","modified_gmt":"2019-10-15T04:22:56","slug":"singapore-gdp-grew-0-1-in-q3","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-gdp-grew-0-1-in-q3\/","title":{"rendered":"Singapore GDP grew 0.1% in Q3"},"content":{"rendered":"


\nThis means Singapore narrowly avoided a technical recession, which is defined as two consecutive quarters of economic decline.
\nThe Singapore economy grew 0.1 percent on a year-on-year basis in the third quarter of 2019, which is the same pace of growth seen in the previous quarter, showed advanced estimates from the Ministry of Trade and Industry (MTI).
\nOn a quarter-on-quarter seasonally adjusted annualised basis, the city-state\u2019s gross domestic product (GDP) expanded 0.6 percent, a reversal from the 2.7 percent contraction registered in the previous quarter.
\nThis means the city-state avoided a technical recession, which is defined as two consecutive quarters of economic decline.
\nThe construction sector led the quarterly growth as it expanded 2.7 percent year-on-year in Q3.
\n\u201cGrowth in the sector was supported by a pickup in both public and private sector construction activities,\u201d said MTI.
\nThe sector, however, contracted 1.1 percent on a quarter-on-quarter seasonally adjusted annualised basis, which is a slower pace of decline than Q2\u2019s 5.3 percent contraction.
\nThe services producing industries also expanded 0.9 percent year-on-year in Q3, continuing the 1.1 percent growth posted in Q2.
\n\u201cGrowth during the quarter was primarily supported by the finance & insurance sector, the other services industries and the business services sector,\u201d noted the ministry.
\nMeanwhile, the manufacturing sector contracted 3.5 percent year-on-year in Q3, continuing the 3.3 percent decline posted in Q2.
\nMTI attributed the contraction to \u201coutput declines in the electronics, precision engineering and transport engineering clusters, which more than offset output expansions in the chemicals, biomedical manufacturing and general manufacturing clusters\u201d.
\nOn a quarter-on-quarter seasonally-adjusted annualised basis, the sector shrank 0.4 percent, moderating from Q2\u2019s 4.2 percent contraction.
\nThe preliminary GDP estimates for Q3 2019, including the sources of growth, performance by sectors, employment, inflation and productivity, will be released by MTI in its Economic Survey of Singapore in November 2019.
\nWhile you\u2019re here,\u00a0check out Singapore properties for sale.\u00a0Or, read our handy property\u00a0buying guides\u00a0to help you own a property.
\n\u00a0
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Singapore GDP grew 0.1% in Q3<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

This means Singapore narrowly avoided a technical recession, which is defined as two consecutive quarters...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-111596","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-t1W","jetpack-related-posts":[{"id":112546,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mti-sees-gdp-growth-forcast-in-2019-and-2020\/","url_meta":{"origin":111596,"position":0},"title":"MTI sees GDP growth forcast in 2019 and 2020","date":"November 22, 2019","format":false,"excerpt":"\r Singapore\u2019s economy is expected to have a growth of \u201c0.5 to 2.5%\u201d in 2020. The Ministry of Trade and Industry (MTI) expects that the Singapore economy to grow by 0.5 to 1.0% this year and by 0.5 to 2.5%\u201d in 2020, according to a report released on Thursday (Nov\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":109047,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-economic-growth-to-drop-to-0-9-by-year-end\/","url_meta":{"origin":111596,"position":1},"title":"Singapore economic growth to drop to 0.9% by year-end","date":"July 16, 2019","format":false,"excerpt":"\r Fitch Solutions expects Singapore\u2019s economic growth to fall to 0.9 percent by the end of the year, a reversal from its earlier forecast of 2.2 percent growth, reported Singapore Business Review. This comes after GDP growth shrank 3.4 percent quarter-on-quarter but increased by a measly 0.1 percent in the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":109000,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-gdp-growth-slows-to-0-1-in-q2-2019\/","url_meta":{"origin":111596,"position":2},"title":"Singapore GDP growth slows to 0.1% in Q2 2019","date":"July 15, 2019","format":false,"excerpt":"\r While the economy grew by 0.1 percent in the second quarter, it\u2019s still lower than the 1.1 percent growth recorded in the previous quarter. Although the manufacturing sector declined by 3.8 percent, both the construction and services-producing sectors an improvement of 2.2 and 1.2 percent respectively.\u00a0\u00a0 The Singapore economy\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":101572,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-q3-economic-growth-disappoints\/","url_meta":{"origin":111596,"position":3},"title":"Singapore Q3 economic growth disappoints","date":"November 23, 2018","format":false,"excerpt":"\r There are concerns that the recent property cooling measures could weigh down on the real estate and construction sectors. Singapore\u2019s gross domestic product (GDP) rose by 3.0 percent quarter-on-quarter on a seasonally-adjusted and annualised basis in Q3 2018, surpassing the previous quarter\u2019s increase of 1.0 percent, reported the Business\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":107367,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-narrows-gdp-growth-forecast-for-2019\/","url_meta":{"origin":111596,"position":4},"title":"Singapore narrows GDP growth forecast for 2019","date":"May 22, 2019","format":false,"excerpt":"\r The construction sector grew by 2.9 percent year-on-year in Q1 2019.\u00a0 With growth in most regional economies expected to moderate this year, the Ministry of Trade and Industry (MTI) narrowed its gross domestic product (GDP) forecast for 2019 to \u201c1.5 to 2.5 percent\u201d from \u201c1.5 to 3.5 percent\u201d previously.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":113367,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-posts-slowest-economy-expansion-since-2009\/","url_meta":{"origin":111596,"position":5},"title":"Singapore posts slowest economy expansion since 2009","date":"January 3, 2020","format":false,"excerpt":"\r Singapore economy expanded by 0.7% in 2019, which is significantly lower than the 3.1% growth recorded in 2018.\u00a0 Singapore\u2019s economy experienced the slowest growth in a decade last year, growing by a marginal 0.7%. This pales in comparison to the 3.1% growth recorded in 2018, reported Channel News Asia,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/111596"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=111596"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/111596\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=111596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=111596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=111596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}