Singapore Q3 GDP +1.1% q/q (expected 1.5%, prior +6.3%) | Forexlive

For the y/y, +4.1%

• expected +4.3%, prior +4.4%

From Singapore’s MTI:

• Narrows 2022 GDP growth forecast to around 3.5% (previous forecast:
  3% to 4%)
• Forecasts 2023 GDP
  growth of 0.5% to 2.5%
• Says for the rest of
  2022, weaker external economic outlook will weigh on growth of
  outward-oriented sectors in Singapore
• Says growth
  prospects of several sectors remain positive in 2023
• Says growth of
  outward-oriented sectors expected to weaken in 2023 in tandem with
  deterioration in external demand conditions

–

Re ‘external economic outlook’, this is a reference in particular to the mismanagement in China, a key component of Singapore’s external sector.

SGD update: