Downtrend for Singapore economy expected to continue this year

On a quarter-on-quarter seasonally adjusted annualised basis, Singapore's economy expanded at a slower pace of 1.6 per cent in the fourth quarter compared with the 3.5 per cent growth in the previous quarter. As the effect of the trade war starts to
On a quarter-on-quarter seasonally adjusted annualised basis, Singapore's economy expanded at a slower pace of 1.6 per cent in the fourth quarter compared with the 3.5 per cent growth in the previous quarter. As the effect of the trade war starts to bite, the resulting slowdown in China's manufacturing could have impacted Singapore's growth too, said DBS Bank economist Irvin Seah.PHOTO: REUTERS

Singapore's economy last year ended on a low note from October to December, recording the slowest quarter of growth in 2018, as global trade tensions and slowing manufacturing demand eat into the growth of key industries here.

This downward trend is likely to continue into this year, which will be fraught with uncertainties in the global economy, said economists.

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A version of this article appeared in the print edition of The Straits Times on January 03, 2019, with the headline 'Downtrend for S'pore economy expected to continue this year'. Subscribe