Singapore GDP Jumps 9.2% In Q3

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(RTTNews) – Singapore’s gross domestic product expanded a seasonally adjusted 9.2 percent on quarter in the third quarter of 2020, the Ministry of Trade and Industry said in Monday’s final reading.

That was an upward revision from last month’s preliminary reading of 7.9 percent following the 13.2 percent drop in the three months prior.

On a yearly basis, GDP was revised up to -5.8 percent from the preliminary reading of 7.0 percent following the 13.3 percent drop in the previous three months.

Upon the release of the data, the MTI said its GDP forecast for 2020 is -6.0 to -6.5 percent, while 2021 is pegged at 4.0 to 6.0 percent.

Bastion Balance Seoul, Korea.