The Singapore economy has dodged a technical recession, but that is only a technicality. As the flash estimates for growth in the third quarter of this year show, the economy is still flatlining and nowhere near out of the woods.
The year-on-year growth of 0.1 per cent - the same as in the second quarter - was below what most economists expected. The consensus was for 0.2 per cent. Ditto for quarter-on quarter growth, which came in at 0.6 per cent, compared with expectations of 1.2 per cent.