{"id":112006,"date":"2019-10-30T11:39:12","date_gmt":"2019-10-30T04:39:12","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/no-recession-for-singapore-at-this-point-in-time-chan-chun-sing\/"},"modified":"2019-10-30T12:16:27","modified_gmt":"2019-10-30T05:16:27","slug":"no-recession-for-singapore-at-this-point-in-time-chan-chun-sing","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/no-recession-for-singapore-at-this-point-in-time-chan-chun-sing\/","title":{"rendered":"No recession for Singapore \u201cat this point in time": Chan Chun Sing"},"content":{"rendered":"


\nSingapore\u2019s Minister for Trade and Industry Chan Chun Sing believes that the city-state would not be entering a recession for now, reported CNBC.
\nOften seen as a bellwether for global growth, Singapore\u2019s economy avoided a technical recession this year after expanding by 0.6% during the third quarter from the previous quarter. On an year-on-year basis, the city-state\u2019s economy climbed 0.1%.
\n\u201cAt this point in time, I don\u2019t think we are looking at a recession,\u201d he said at the Singapore International Energy Week conference.
\n\u201cBut we are of course cognisant of the larger forces moving in the world. But yet at the same time, we are quietly confident.\u201d
\nRELATED ARTICLE:\u00a0Private Home Prices, HDB Resale Prices Up In Q3 2019
\nSingapore has one of the world\u2019s highest trade-to-GDP ratios, making its economy highly sensitive to global business cycles and trade flows.
\nIn the next 10 to 15 years, the \u201cgreatest challenge\u201d would be whether the world moves into a \u201cmore fragmented global trading and production system\u201d or a more integrated course, said Chan.
\nChina and the US have been entangled in a trade dispute for over a year, with the two imposing tariffs on each other\u2019s goods \u2013 upending supply chains and affecting manufacturing activity across various countries.
\nOver in Singapore, both services-producing and goods-producing industries have been affected.
\nWith the two economic super powers unable to resolve key sticking points, the trade dispute moved to the tech space, with Chinese companies blacklisted by the US, while China reportedly plans to wean off American technology.
\n\u201cIf the world bifurcates or fragments \u2026 that would bring in a very different growth trajectory for the entire world,\u201d said Chan.
\nBut despite the disruptions, he believes the city-state can \u201cplay to our strengths\u201d, citing Singapore\u2019s pro-business environment, intellectual property protection and long-term stability.
\n\u201cI think those are the factors that we offer investors for their long term investment,\u201d he added.
\nLooking for a property in Singapore? Visit\u00a0PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nKyle Leung, Digital Content Manager\u00a0at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0kyle@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…No recession for Singapore \u201cat this point in time”: Chan Chun Sing<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Singapore\u2019s Minister for Trade and Industry Chan Chun Sing believes that the city-state would not...<\/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-112006","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-t8y","jetpack-related-posts":[{"id":115314,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-home-prices-set-for-first-decline-since-2016-as-economic-recession-bites-colliers-says\/","url_meta":{"origin":112006,"position":0},"title":"Singapore home prices set for first decline since 2016 as economic recession bites, Colliers says","date":"April 1, 2020","format":false,"excerpt":"\r Singapore\u2019s home prices are poised to fall for the first time in four years as the global coronavirus pandemic is likely to push the city state\u2019s economy into a recession, according to Colliers International.Prices could decline by as much as 3 per cent this year, the property consultancy said,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":117482,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-home-prices-fall-further-but-still-to-hit-bottom-as-the-city-state-grapples-with-an-unprecedented-recession\/","url_meta":{"origin":112006,"position":1},"title":"Singapore home prices fall further, but still to hit bottom as the city state grapples with an unprecedented recession","date":"July 1, 2020","format":false,"excerpt":"\r Singapore home prices fell by the most in 15 quarters in the three months to June, with analysts warning that the worst is yet to come as the coronavirus pandemic batters the Southeast Asian nation\u2019s economy.Prices of private homes dropped 1.1 per cent in the second quarter, widening from\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":108888,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-building-sector-to-grow-3-2-in-2019\/","url_meta":{"origin":112006,"position":2},"title":"Singapore\u2019s building sector to grow 3.2% in 2019","date":"July 11, 2019","format":false,"excerpt":"\r Fitch Solutions expects Singapore\u2019s building sector to grow by 3.2 percent this year and 2.3 percent in 2020, on the back of strong pipeline of planned buildings. 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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":[]},{"id":115286,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mas-eases-monetary-policy-amid-covid-19-pandemic\/","url_meta":{"origin":112006,"position":4},"title":"MAS eases monetary policy amid Covid-19 pandemic","date":"March 31, 2020","format":false,"excerpt":"\r With the economy battered by the Covid-19 pandemic, the Monetary Authority of Singapore (MAS) eased its monetary policy by reducing the Singapore dollar policy band\u2019s slope to a zero rate of appreciation. MAS also lowered the midpoint of the policy band, a move it last took during the global\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":115018,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-economy-to-fall-by-0-5-this-year-dbs\/","url_meta":{"origin":112006,"position":5},"title":"Singapore\u2019s economy to fall by 0.5% this year \u2013 DBS","date":"March 20, 2020","format":false,"excerpt":"\r Total retrenchments are also expected to hit 24,500 this year.\u00a0 DBS Bank expects a 0.5% drop in Singapore\u2019s economy this year, instead of the 0.9% growth forecasted last month, reported The New Paper. 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