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Just wanted to look around to see how many folks are aware of the actual dismal performance of our Q2 GDP growth, which contracted by 4.7% on an annualized q-on-q basis? It's quite interesting looking at local media coverage of the Q2 GDP statistics, and foreign media coverage (i.e. BBC, Reuters, Bloomberg). Something that really stands out is how the local media headlines and emphasis is on the nominal y-on-y 1.8% GROWTH in GDP, with the actual negative contraction of 4.7% relegated to one or two sentence buried in the middle of the report. Whereas for foreign coverage, the emphasis is on annualised contraction of 4.7% in GDP. To put this into context, SG hasn't experienced such a sharp contraction in GDP on a quarterly annualised basis since the 1997 Asian Financial Crisis. Around my own circles, the non-finance or non-economics trained individuals didn't really have a clue that the economy just hit a hard landing and we are staring right into the abyss of quite a deep recession that is close approaching. Pretty much why explains why most people here are so tied up in debating on COE fluctuations and hypotheticals everyday :) See examples below. Local and official sources https://www.enterpriseone.gov.sg/en/News/2015/July/150714%20Singapores%20GDP%20Rose%20By%201pt7percent%20On%20Year%20In%20Q2%202015.aspx http://www.singstat.gov.sg/docs/default-source/default-document-library/news/press_releases/advgdp2q2015.pdf http://www.channelnewsasia.com/news/business/singapore-economy-grew/1982450.html Foreign sources: http://www.reuters.com/article/2015/07/14/singapore-economy-gdp-idUSL3N0ZQ34K20150714 http://www.cnbc.com/2015/07/13/singapore-2q-gdp-dropped-46-on-quarter-while-08-rise-expected.html