Singapore Economy contracted 3.4% q-o-q

[JustLikeThis]

Singapore’s economy performed worse than expected in the second quarter, slowing again after hitting its lowest rate since the global financial crisis in the first three months of this year.

On a quarter-on-quarter seasonally-adjusted annualised basis, the economy shrank by 3.4 per cent, after posting growth of 3.8 per cent in the preceding three months.
Economists said the latest figures showed weakness across key sectors, with all contracting from the first quarter of the year.

Manufacturing shrank six per cent from the previous quarter, while construction contracted by 7.6 per cent and services by 1.5 per cent. Both construction and services reversed their previous quarter-on-quarter growth.

Lacklustre performance by the manufacturing sector dragged growth in the second quarter, even as construction continued its recovery and services grew compared to a year ago. The ministry’s latest figures showed that manufacturing contracted by 3.8 per cent year on year in the second quarter, extending its 0.4 per cent decline previously.

https://www.straitstimes.com/busine...n-q2-lowest-in-decade-and-worse-than-expected

 

[Leongsam]

This is why it is so important to give the PAP a strong mandate at the next election so that they can take the necessary measures to get Singapore moving again.

 

[JustLikeThis]

This is why it is so important to give the PAP a strong mandate at the next election so that they can take the necessary measures to get Singapore moving again.

Sure, I think we also need to pay our government more so that they can take better measures to get Singapore moving again.

Singapore exports plunge 17.3% in June, the biggest drop in over 6 years
https://www.straitstimes.com/busine...nge-173-in-june-as-double-digit-slump-worsens

 

[bobby]

 

[winnipegjets]

This is why it is so important to give the PAP a strong mandate at the next election so that they can take the necessary measures to get Singapore moving again.

Yes, the next PAP government will propel SINKapore to 10 percent growth annually for 5 years!

 

[halsey02]

Get the PAP ministers sing this song we now have forgotten & needed to be reminded...



Let us all sing together....ha ha ha ha

 

[syed putra]

Is it because dr m is back and he blocked ships and planes from embarking?

 

[knowwhatyouwantinlife]

I think they may use this justification: 1q -2% 2q -1% 3q -0% 4q-+3% so zero growth equals no recession for the year lor

 

[rotiprata]

Let us all sing together....ha ha ha ha

if DN & OTC are still alive ...