Singapore Returns to Growth in Third Quarter, Averting Recession

The city-state, which leaned on its financial services industry for growth support during the pandemic, is now seeing recovery in more sectors. Photo: Bloomberg

(Bloomberg) — Singapore’s economy returned to growth in the third quarter, averting a recession while showing the fragility of post-pandemic prospects as the world outlook darkens.

Gross domestic product in the three months through September rose 1.5% from the previous quarter, the Ministry of Trade and Industry (MTI) said in a statement Friday. That’s faster than the median estimate for a 0.7% expansion in a Bloomberg survey.