Singapore data: Q2 GDP -3.3% q/q (annualised), +0.1% y/y
More sad economic growth data from SG. Final Q2 GDP:
- GDP for Q2 -3.3 pct q/q at annualised, seasonally adjusted rate (compared with the Reuters poll -2.9 pct)
- 0.1 pct y/y (Reuters poll 0.1 pct)
- Singapore MTI revises 2019 GDP growth forecast to zero to 1 pct (previous forecast 1.5 to 2.5 pct)
- Singapore MTI says 2019 growth expected to come in around mid-point of forecast range
- Manufacturing -3.4 pct q/q at annualised, seasonally adjusted rate
- Services -2.0 pct q/q at annualised, seasonally adjusted rate
- 2019 forecast for non-oil domestic exports revised down to -9% from -8%
- non-oil domestic exports -14.6% y/y
Another cut for economic growth forecasts from Singapore.
The next monetary policy meeting due in Singapore is in October. Surely this bumps up the chance of a pre-meeting easing in policy by the Monetary Authority of Singapore ?