Singapore's economy expanded more than initially estimated in the second quarter from a year ago, according to the Ministry of Trade and Industry (MTI), and the government upgraded its growth forecast for the full year, according to Reuters news agency.
Singapore's economy is expected to have grown 0.9 percent in the first quarter on an annual basis, an improvement from earlier estimates, thanks to stronger-than-expected performance in the manufacturing sector, according to a poll of economists by Reuters.
A Reuters poll announced on August 14 showed that Indonesia’s exports and imports may have plummeted in July, following an improvement a month prior, with global trade still reeling under the fallout from the coronavirus crisis.
Singapore’s annual economic growth slipped to the lowest rate in nearly a decade during this year’s first quarter as manufacturing slowed down in the wake of the prolonged US-China trade war, prompting a downgrade to the city-state’s full-year growth forecast.
Indonesia posted its widest monthly trade deficit in five years this November due to slumped exports, according to statistics firm Refinitiv on December 17.
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.
Thailand’s exports in September defied analyst expectations, dropping for the first time in 19 months, according to data from the country’s commerce ministry.
Singapore’s non-oil domestic exports (NODX) increased by 11.8 percent in July year-on-year, surpassing expectations, according to the country’s International Enterprise (IE).
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