Third quarter economic growth in Singapore rebounded:
- Q3 GDP +9.2% q/q (seasonally adjusted rate) vs. expected 9.5%, prior 7.9%
- Q3 GDP -5.8% y/y vs. expected -5.8%, prior -7.0%
More:
The Ministry of Trade and Industry has revised their 2020 GDP growth forecast to -6.5% to -6% (previous
forecast -7% to -5%)
- forecasts 2021
GDP growth of +4% to +6% - says 2020 sales
volumes in consumer-facing sectors likely to remain below last year’s
levels - says economic
activity in consumer-facing sectors not likely to return to pre-covid
levels even by end-2021 - 2020 NODX forecast
adjusted upwards to +4% to +4.5% - 2021 NODX forecast
0% to +2% - 2020 trade
merchandise forecast adjusted upwards to -7.5% to -7% - 2021 trade
merchandise forecast +1% to +3%
more to come
This article was originally published by Forexlive.com. Read the original article here.