Factory output fall revives technical recession chatter

Singapore

TALK of a third-quarter technical recession was revived on Monday, after data showed that manufacturing output continued to contract for the eighth straight month in September. Industrial production dropped 4.8 per cent year on year last month - although the pace of decline eased from August's 7.1 per cent fall.

A technical recession is defined as two straight quarters of sequential contraction in GDP (gross domestic product) - something Singapore has narrowly dodged in Q3, according to advance growth estimates by the Ministry of Trade and Industry (MTI).