Reuters poll: Singapore sees lower than expected economic growth
A Reuters poll of 11 economists showed that Singapore is expected to report slower third-quarter economic growth than initially thought as the manufacturing sector faces strains from weaker global demand and an intensifying trade dispute between the United States and China.
Singapore is expected to report slower third-quarter economic growth than initially thought (Photo: AFP/VNA)
Singapore (VNA) – A Reuters poll of 11 economists showed that Singaporeis expected to report slower third-quarter economic growth than initiallythought as the manufacturing sector faces strains from weaker global demand andan intensifying trade dispute between the United States and China.
Economists said the city state’s finalisedgross domestic product (GDP) was forecast to rise 4.2 percent in July-Septemberfrom the quarter earlier on a seasonally adjusted and annualized basis, belowthe 4.7 percent rise seen in the advanced estimate and up 2.4 percentyear-on-year.
“Final third quarter GDP is expected to berevised downwards, given the slower than expected manufacturing numbers andmonthly indicators for the services sectors such as bank loans and propertysales showing weaker numbers,” said Maybank Kim Eng Securities economist Lee JuYe.
Singapore’s central bank has warned that aheated trade war between the United States and China - one of the city state’smajor trade partner - could hurt the domestic economy.
Singapore’s export growth to China has slowed forfive months in a row, raising worries about the outlook that the trade tensionsbetween the two largest economies in the world show no signs of abating.
The Ministry of Trade and Industry hadforecast full-year growth of 2.5 to 3.5 percent in 2018.
Singapore will announce its official GDP data in the third quarter on November22.-VNA
Singapore’s new investment in Indonesia rose 38 percent to reach 5.04 billion USD in the first half of this year compared with the same period last year, according to Indonesian Industry Minister Airlangga Hartarto.
Singapore’s inflation is forecast to rise slightly this year due to the impacts of global petrol and food prices, according to the Monetary Authority of Singapore (MAS) and the Ministry for Trade and Industry (MTI).
The Monetary Authority of Singapore (MAS) on October 12 decided to tighten its monetary policy for the second time this year, forecasting the economy to expand steadily and core inflation to rise.
Singapore has allocated 19 billion SDG (roughly 13.7 billion USD) for economic reform projects during the 2016-2020 period, said Singaporean Trade and Industry Minister Chan Chun Sing.
Singapore’s exports growth picked up the annual pace in October and handily beat forecasts, thanks to a continued surge in pharmaceutical shipments though the key electronics sector contracted again.
The forum, which involves global experts and creative leaders from across 14 cultural sectors, aims to expand Thailand’s presence on the world stage through innovation and cultural exchange.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
Singapore is expected to report slower third-quarter economic growth than initially thought (Photo: AFP/VNA) 
