Following the historic y-o-y plunge of 13.3% in 2Q2020, Singapore’s economy moderated to shrink by 7% y-o-y in the third-quarter, according to official advance estimates. On a q-o-q seasonally-adjusted basis, the republic’s GDP expanded by 7.9% in 3Q2020 ended September, a significant deviation from the 13.2% plunge seen in the previous quarter, according to the Ministry of Trade and Industry (MTI) on Oct 14.

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