Q3 technical recession unlikely due to manufacturing uptick: DBS

Singapore

SINGAPORE'S economy is expected to avert a technical recession in the third quarter this year, thanks to a mild improvement in the manufacturing sector, though support is still warranted, according to a latest report by DBS Group Research.

According to DBS analysts, Singapore's economy will likely register a growth of 0.4 per cent year-on-year and a growth of 2.1 per cent quarter-on- quarter in Q3 2019, based on a seasonally adjusted annual rate.

''Yet, output gap has turned even more negative in Q2 2019. This explains why inflation has persistently surprised on the downside thus far. Overall inflation for the year is projected to average 0.5 per cent, before rising to …