Manufacturing loses traction as services lead Q3 growth
Services and construction sectors save Singapore from technical recession as outlook for manufacturing remains dim
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Singapore
MANUFACTURING as a growth engine lost more of its traction in the third quarter, as service-producing industries took the lead and propelled the Singapore economy to expand more than expected.
Figures released by the Ministry of Trade and Industry (MTI) on Wednesday showed that manufacturing was the only sector that contracted, the first time this year. It shrank a year-on-year 6.2 per cent in the three months ended September.
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