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Singapore seen narrowly dodging recession in third quarter, central bank to ease

Reuters
Reuters10/7/2019 04:54 PM GMT+08  • 2 min read
Singapore seen narrowly dodging recession in third quarter, central bank to ease
SINGAPORE (Oct 7): Singapore’s economy likely escaped a technical recession in the third quarter even as growth stayed subdued, weighed down by the prolonged trade dispute between the United States and China, a Reuters poll showed.
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SINGAPORE (Oct 7): Singapore’s economy likely escaped a technical recession in the third quarter even as growth stayed subdued, weighed down by the prolonged trade dispute between the United States and China, a Reuters poll showed.

Gross domestic product (GDP) is expected to have increased 1.5% on a quarter-on-quarter, seasonally adjusted and annualized basis in July-September, according to the median forecast of 11 economists in the poll.

That would mark a recovery from a 3.3% drop in the second quarter, the biggest contraction in nearly seven years, but analysts say the outlook remains weak as global demand shows further signs of faltering.

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