Singapore’s economy grows 5.4% in Q3, down from 6.2% in previous quarter: Advance estimates

Advance estimates are largely computed from data in the first two months of the quarter, July and August in this case. They are intended as an early indicator and may be revised later when more data is available. 

Growth in the manufacturing sector was driven by output expansions in the electronics, precision engineering, transport engineering and general manufacturing clusters, said METI in a media release on Wednesday. 

This outweighed declines in output in the chemicals and biomedical manufacturing clusters, it added. 

On a quarter-on-quarter seasonally adjusted basis, the manufacturing sector contracted 0.9 per cent, compared with the 6.3 per cent growth in Q2.

The construction sector grew 8.8 per cent in the third quarter, faster than the 6.1 per cent growth reported in Q2, as both public and private sector construction output increased, figures from METI showed. 

On a quarter-on-quarter seasonally adjusted basis, the sector grew 3.4 per cent, turning around from the 2.7 per cent contraction in the previous quarter.