Established 1974 313,000+ clients worldwide 17,000+ markets

Singapore’s GDP expanded by 2.6 percent for Q3

Growth which was supported by the manufacturing and services sectors, was slightly lower compared to the second quarter, which expanded by 4.1 percent.

IG Analyst

Publication date : 2018-10-12T02:05:00+0100

bg_traders_233056610

The Singapore economy grew 2.6 percent year-on-year in the third quarter, advance estimates from the Ministry of Trade and Industry Singapore showed on Friday. Growth was supported by the manufacturing and services sectors.

This is slightly lower compared to the 4.1 percent increase in the second quarter and the 4.6 percent rise seen in the first quarter.

On a quarter-on-quarter seasonally adjusted annualised basis, Singapore’s third quarter gross domestic product (GDP) performance was up by 4.7 percent, faster than the 1.2 percent growth in the preceding quarter.

The manufacturing sector grew by 4.5 percent from a year ago for the third quarter, slower than the 10.6 percent expansion in the previous quarter. The expansion was mainly supported by the electronics, biomedical manufacturing and transport engineering clusters.

Services producing industries expanded by 2.9 percent from a year ago, similar to the pace in the previous quarter. Main contributors to the growth were the finance and insurance, business services, and wholesale and retail trade services.

Meanwhile, the construction sector continued its contractionary mode, as it shrank 3.1 percent for the third quarter, following the 4.2 percent decline in the previous quarter, weighed down by weakness in public sector construction activities.

IGA, may distribute information/research produced by its respective foreign marketing partners within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

This information/research prepared by IGA or IG Group is intended for general circulation. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. You should take into account your specific investment objectives, financial situation or particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. In addition to the disclaimer above, the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

See important Research Disclaimer.

Find articles by writer

Disclaimer:

All forms of investments carry risks. CFDs are leveraged instruments. Trading CFDs may not be suitable for everyone and can result in losses that exceed deposits, so please ensure that you fully understand the risks and costs involved by reading the Risk Disclosure Statement and Risk Fact Sheet.

IG provides an execution-only service. The information herein does not contain (and should not be construed as containing) investment advice or an investment recommendation, or an offer of or solicitation for a transaction in any financial instrument, nor does the information take into account the specific objectives, financial situation or particular needs of any person. Where in doubt, you should seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

IG Asia Pte Ltd (Co. Reg. No. 200510021K) holds a capital markets services licence issued by the Monetary Authority of Singapore for dealing in capital market products that are over-the-counter derivatives contracts and is an exempt financial adviser.

The information on this site is not directed at residents of the United States or Belgium and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

This advertisement has not been reviewed by the Monetary Authority of Singapore.