That was faster than the 0.5% growth posted in the second quarter, and beat the 0.45% growth expected by 10 economists surveyed by The Wall Street Journal. Services-producing industries grew 1.9% on year in the third quarter, slower than the 2.8% expansion recorded in the second quarter, while construction grew 6.0% in the third quarter from a year earlier following a 7.7% expansion in the prior quarter. Manufacturing shrank 5.0% on year in the third quarter, slowing from the 7.7% contraction in the second quarter. Singapore's GDP grew 1.0% on a quarter-over-quarter seasonally adjusted basis in the third quarter, the advance estimates showed. That compared with the 0.1% expansion in the second quarter.

Source: Wall Street Journal October 13, 2023 22:06 UTC