By Chen Lin and Aradhana Aravindan
SINGAPORE (Reuters) – Singapore’s economic decline is expected to have slowed significantly in the third quarter as the city-state loosened coronavirus curbs, giving the central bank room to keep monetary settings unchanged when it meets next week.
Gross domestic product (GDP) is expected to contract 6.8% from the same period a year earlier, according to the median forecast of 11 economists in a Reuters poll, marking the third straight quarter of decline. The economy had shrunk 13.2% in April-June – its worst performance on record as the country went into lockdown.
GDP may jump 35.3% on a quarter-on-quarter seasonally adjusted and annualised basis in July-September, the poll showed, picking up from a 42.9% plunge in the second quarter.
“We expect a rebound from the second-quarter lows as economic activities partially resumed from June, although some restrictions remain,” said Jeff Ng, senior treasury strategist at