Singapore GDP shrinks unexpectedly in third quarterStaff Writer | October 14, 2016
Singapore's economy shrank rapidly and unexpectedly in the third quarter, stoking worries about growth in the Asia Pacific region.
Economy in Asia Growth was just 0.6% in Singapore
That brought the year-on-year rate of growth to just 0.6% (consensus: 1.7%) after an expansion of 2.0% in the second quarter.
Factory production in Singapore plummeted at a quarterly annualised pace of 17.4% in the third quarter, while services output dropped 1.9%. ■