Singapore third quarter GDP )’advanced’ estimates, i.e the first estimate)
0.6 % y/y
– expected 1.7%, prior 2.1%
-4.1 % q/q (annualised)
– expected 0%, prior 0.3%
Big miss on both y/y and q/q. The q/q annualised is very poor indeed. I’m seeing some analysts suggest the Singapore economy is ‘crashing’ … this from the usual sort of suspects, but they’ve got a point on this data.