Singapore’s full-year growth set to track near potential rate after resilient Q3 beats expectations

[SINGAPORE] The Republic’s economy is on track to deliver full-year growth close to its potential path, after third-quarter gross domestic product showed unexpected resilience and surpassed market expectations.

Singapore’s economy grew 2.9 per cent year on year (yoy) in Q3, slowing from the previous quarter’s 4.5 per cent, advance estimates from the Ministry of Trade and Industry showed on Tuesday (Oct 14).

Nevertheless, the Q3 performance beat the median forecast of 2 per cent growth projected by private-sector economists polled by Bloomberg.