Some good news for firms after Singapore avoids technical recession, but sentiment still weak: Analysts

In the third quarter, the manufacturing sector contracted 3.5 per cent year on year. Industries such as manufacturing, especially electronics, precision engineering and transport engineering, have been hit harder, said Singapore Business Federation c
In the third quarter, the manufacturing sector contracted 3.5 per cent year on year. Industries such as manufacturing, especially electronics, precision engineering and transport engineering, have been hit harder, said Singapore Business Federation chief executive Ho Meng Kit.ST FILE PHOTO

Businesses still grappling with effects of economic slowdown

It was a close-run thing, but narrowly avoiding a technical recession has given the local business community something to cheer about amid a global economic slowdown, say economists.

However, businesses and as-sociations said they were still reeling from the effects of trade uncertainty and lower consumer demand.

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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 'Some good news for firms, but sentiment still weak: Analysts'. Print Edition | Subscribe