Twin engines of growth sputter in Q3 with sequential declines
Economists warn of tougher times ahead, especially in services sector
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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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