Commentary

Recession avoided, but S'pore economy not out of the woods yet

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.

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A version of this article appeared in the print edition of The Straits Times on October 15, 2019, with the headline 'Recession avoided, but economy not out of the woods yet'. Print Edition | Subscribe