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Twin engines of growth sputter in Q3 with sequential declines

Economists warn of tougher times ahead, especially in services sector

Published Fri, Oct 14, 2016 · 09:50 PM
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Singapore

SINGAPORE'S twin engines of growth - the services and manufacturing sectors - floundered spectacularly in the third quarter of 2016, leaving the market aghast and prompting a round of forecast cuts.

Together, the two sectors pulled overall gross domestic product squarely into contractionary territory, marking a 4.1 per cent decline on a seasonally adjusted quarter-on-quarter annualised basis.

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