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GDP Contraction

Posted by )^F(twK)dcxUnC26N$4(Wg(T on October 19, 2020
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Singapore economy faced a contraction, slightly beyond expectation year to year in the third quarter Q3 2020 from a year ago as shown in the Wednesday preliminary data. Year to year shrinking of Gross Domestic Product (GDP) by 7% in July to September was announced by Ministry of Trade and Industry. Poll conducted by Reuters from a group of prominent economists expects a contraction or decline by 6.8% which is comparatively close thereby confirming the same sentiment of the economy contraction in the industry as a whole.  With such contraction, there is surprisingly minimal effect on the sales of new condo with the most recent new condo launch by developers

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