Heng ah...no Technical R.....

[RadX]

The dreaded R word. We avoid....u believe???? [:p]

 

 

 

Singapore's Q3 GDP grows by 1.3% on-year

 

 

 

Singapore's economy grew by 1.3 per cent on a year-on-year basis in the third quarter of 2012, compared to a 2.3 per cent growth in the previous quarter.

 

On a quarter-on-quarter basis, the economy contracted by 1.5 per cent, a reversal from a growth of 0.2 per cent in the second quarter.

 

Releasing the advance GDP estimates for the third quarter on Friday, the Ministry of Trade and Industry (MTI) said the Singapore economy remains on track to grow by 1.5 to 2.5 per cent in 2012.

 

It said economic growth in the second quarter was better than expected, resulting in an upward revision of quarter-on-quarter annualised growth from the preliminary estimates of -0.7 per cent to 0.2 per cent.

 

Commenting on the various sectors, MTI said the pullback in quarter-on-quarter growth momentum in the third quarter was mainly due to contraction in the manufacturing sector.

 

The sector declined by an annualised rate of 3.9 per cent, following the 0.1 per cent contraction in the preceding quarter. This largely reflected the decline in output of the electronics cluster.

 

On a year-on-year basis, the manufacturing sector grew by 0.7 per cent compared to the 4.6 per cent increase in the preceding quarter.

 

The construction sector grew by 8.6 per cent on a year-on-year basis in the third quarter, moderating from 10.1 per cent in the previous quarter. On a quarter-on-quarter basis, the sector contracted by an annualised rate of 7.5 per cent due to a decline in private sector building activities.

 

Services producing industries rose by 1.1 per cent on a year-on-year basis, following the 0.9 per cent growth in the previous quarter. On a quarter-on-quarter basis, the services producing industries grew by an annualised rate of 0.1 per cent, compared to the 0.4 per cent decline in the preceding quarter.

 

MTI cautioned that growth could be weighed down by the subdued global economic conditions for the rest of the year. Externally-oriented sectors such as manufacturing and wholesale trade will be affected by the slowdown in advanced economies.

 

However, it said there will be modest support to growth from healthy expansion in the transport engineering cluster and construction sector.

 

- CNA/de

[Mockngbrd]

Tony Tan confiden for the footure!

[RadX]

  On 10/12/2012 at 8:11 AM, Mockngbrd said:

Tony Tan confiden for the footure!

 

 

sturdy hand [:p]

[Tianmo]

just holding on tight and trying to release slowly............... <_<

[RadX]

  On 10/12/2012 at 8:16 AM, Tianmo said:

just holding on tight and trying to release slowly............... <_<

 

 

cb...i did my part....i contributed to the economy...wtf u waiting for??? my funeral then buy? <_<

[Vextan]

frankly, so far, singapore econommy has been very resilient these years. look at europe countries, despite us being closely tied to the world economy, somehow singapore ecconomy has managed to remain steadfast unaffected.

[Clubace]

Eh...how you all see it ah?

 

Technical recession is 2 straight quarters of decline right?

[RadX]

  On 10/12/2012 at 8:18 AM, Vextan said:

frankly, so far, singapore econommy has been very resilient these years. look at europe countries, despite us being closely tied to the world economy, somehow singapore ecconomy has managed to remain steadfast unaffected.

 

 

Yup. strange

[RadX]

  On 10/12/2012 at 8:18 AM, Clubace said:

Eh...how you all see it ah?

 

Technical recession is 2 straight quarters of decline right?

 

 

yes...

[Clubace]

http://www.businesstimes.com.sg/breaking-n...voided-20121012

 

 

Oh i see that the growth of Q2 was revised upwards. I thought i remembered last quarter dropped too.

Edited October 12, 2012 by Clubace

[Tianmo]

  On 10/12/2012 at 8:17 AM, RadX said:

cb...i did my part....i contributed to the economy...wtf u waiting for??? my funeral then buy? <_<

 

 

I wait for R...........when everyone start to hold back.............than I buy lah.........someone must take the lead to spend and help recovery mah...........I want to help economy recover mah............... [laugh]

[RadX]

  On 10/12/2012 at 8:22 AM, Tianmo said:

I wait for R...........when everyone start to hold back.............than I buy lah.........someone must take the lead to spend and help recovery mah...........I want to help economy recover mah............... [laugh]

 

 

knn...by that time, your funeral lai liao [:p]

[Gitanic]

Recession or Growth there remains issues to be resolved. [:p]

[Vextan]

anyone of you think that recession is not entirely a bad thing ? considering many will lose jobs and businesses will be adversely affected. is there any good that can come of a recession ?

Edited October 12, 2012 by Vextan

[Tianmo]

  On 10/12/2012 at 8:18 AM, RadX said:

Yup. strange

 

 

you no see now gov pushing out so many HDB project meh................ [laugh]

[RadX]

  On 10/12/2012 at 8:23 AM, Vextan said:

anyone of you think that recession is not entirely a bad thing ? but it is quite a selfish thought, considering many will lose jobs and businesses will be adversely affected. what are the good of a recession if any ?

 

 

good for ppl to restart and refocus on needs vs wants.....stay simple. but then again, if R, i will still buy my car...cheeper mah [laugh]

[RadX]

  On 10/12/2012 at 8:23 AM, Vextan said:

anyone of you think that recession is not entirely a bad thing ? considering many will lose jobs and businesses will be adversely affected. is there any good that can come of a recession ?

 

 

oso recession, brings the family togr....really!

[Vextan]

  On 10/12/2012 at 8:24 AM, RadX said:

good for ppl to restart and refocus on needs vs wants.....stay simple. but then again, if R, i will still buy my car...cheeper mah [laugh]

yup, i agree. thats good thing. but for those who are not affected, good time to pick up cheaper luxury big ticket items like cars and property. mistress also cheaper to maintain i think.