Singapore’s third quarter GDP figures will be released next week. We expect growth to settle at 0.6% year-on-year, up 0.8% from the previous quarter. Retail sales were Singapore’s only bright spot, managing to record modest growth during the quarter.
The return of visitors to Singapore could be a factor that helps support retail sales. On the other hand, the contraction of industrial production and the fall in national non-oil exports will be the main elements that will reduce growth.