Singapore Q3 economic growth comes in slower than expected

Q3 GDP in Singapore comes in at +3% q/q against an expected +4.2%

• For the y/y up 2.2% (2.4% expected)

Singapore's Ministry of Trade and Industry (MTI) data

• MTI revise its forecast for GDP growth for 2018 to 3.0 to 3.5%, from 2.5 to 3.5%previously
• 2019 GDP growth forecast of between 1.5 to 3.5%

"The external demand outlook for the Singapore economy in 2019 is slightly weaker as compared to 2018. At the same time, risks in the global economy are tilted to the downside," "There is the risk of a further escalation of the ongoing trade conflicts between the U.S. and its key trading partners, which could trigger a sharp fall in global business and consumer confidence."