The Trader 

Market Outlook: Singapore economy tumbles

The Trader

James Dyson may or may not have paid the asking $79 million for Singapore’s most expensive penthouse this week, to get closer to his company’s new headquarters. What we do know is that data published by the Ministry of Trade and Industry today show that not only was growth well below analysts’ expectations, but Q2 growth was the weakest in a decade. Q2 GDP grew by just 0.1 per cent, dragged down by the manufacturing sector, and well below the revised Q1 figure of 1.1 per cent. This takes the quarterly seasonally adjusted rate to minus 3.4 per cent, the biggest quarterly contraction since the 4.1 per cent fall in Q3 2012.

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