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dysentry

GDP crash 3.4% in Q2, deep recession otw

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Singapore’s economy performed badly in the second quarter, with the slowest annual growth in a decade and sharp shrinkage from the previous three months as the manufacturing sector continued to decline, preliminary data showed on Friday.

From a year earlier, gross domestic product (GDP) expanded 0.1% in the second quarter, well below the 1.1% forecast in a Reuters poll and the revised 1.1% growth for January-March.

This is the slowest year-on-year GDP growth since the second quarter of 2009, when it fell 1.2%.

On a quarterly, seasonally adjusted and annualized basis, GDP shrank 3.4% in April-June from the previous three months, the Ministry of Trade and Industry said in an emailed statement.

A Reuters poll had forecast a marginal on quarter expansion of 0.1%. In the first quarter, GDP expanded 3.8% from the previous quarter.

This is the biggest quarterly contraction in nearly seven years, since a 4.1% fall in the third quarter of 2012 from the quarter earlier on a seasonally adjusted and annualized basis.

The second quarter flash numbers are “quite disastrous... way below even the worst street forecasts,” said Selena Ling, head of treasury and strategy at OCBC Bank, adding that the main drag remains manufacturing.

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5 minutes ago, tikopek said:

But how come everything still going up?

To cushion the crash. 

I don't know what I'm talking about. 

  • Haha 1

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people only go to malls for aircon but no money to spend! 

only entertainment is netflix nowsaday! 

 

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3 hours ago, dysentry said:

people only go to malls for aircon but no money to spend! 

only entertainment is netflix nowsaday! 

 

Ya, I go mall for aircon and go home to eat

  • Like 1

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dun worry lah... if property dun drop prices or firesale, singapore very safe...

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PAP is feverishly spending on construction to ease the crash? 

 

My area is going through a massive upgrade:

 

1. Kiddies playground - resurface and new seats

2. repainting of building - Berger paint

3. Lift renewal - complete change 

4. flooring and ceiling redo at lift lobby

5. Change of lights, doors, cameras, etc

6. Change dustbin points

7. Possible covered walkways (election favourite)

8. May have missed out some others

 

a few million I think for 4 blocks. Multiply this across the island?

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3 minutes ago, Satki said:

PAP is feverishly spending on construction to ease the crash? 

 

My area is going through a massive upgrade:

 

1. Kiddies playground - resurface and new seats

2. repainting of building - Berger paint

3. Lift renewal - complete change 

4. flooring and ceiling redo at lift lobby

5. Change of lights, doors, cameras, etc

6. Change dustbin points

7. Possible covered walkways (election favourite)

8. May have missed out some others

 

a few million I think for 4 blocks. Multiply this across the island?

alot of HIP projects going on now as well 

1988-89 built many blocks? 

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57 minutes ago, dysentry said:

last chance to shop online

sgd going to crash! 

In gold I trust

 

Muhahahahha

  • FapFapFap 1

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Posted (edited)
31 minutes ago, Satki said:

PAP is feverishly spending on construction to ease the crash? 

 

My area is going through a massive upgrade:

 

1. Kiddies playground - resurface and new seats

2. repainting of building - Berger paint

3. Lift renewal - complete change 

4. flooring and ceiling redo at lift lobby

5. Change of lights, doors, cameras, etc

6. Change dustbin points

7. Possible covered walkways (election favourite)

8. May have missed out some others

 

a few million I think for 4 blocks. Multiply this across the island?

Make no different to me cause ppl are jobless or those with job scare to anyhow spend 

 

Like me, I am misfrumini since I am in primary school. Economy good or bad my spending nv change

Edited by The_King

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24 minutes ago, Satki said:

Mine 1996 

 

28 minutes ago, dysentry said:

alot of HIP projects going on now as well 

1988-89 built many blocks? 

Mine build in 2013 also upgrading.

Still can upgrade the shelter walk way, upgrading better playground,

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33 minutes ago, The_King said:

In gold I trust

 

Muhahahahha

looking for gates with abloy locks now! 

 

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2 minutes ago, dysentry said:

looking for gates with abloy locks now! 

 

I suggest you cut my door hinge.. it much easier

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TS is fear mongering #fakenews

@socrates469bc says crash is 2020 or later.

 

and you see the condo at cow car water... $2-2.5k psf...

i go jewel see the  lobster restaurant... 1 person eat easily $60-100+... still got long queue... what crash u talking about?? 

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10 hours ago, Satki said:

PAP is feverishly spending on construction to ease the crash? 

*snip*

a few million I think for 4 blocks. Multiply this across the island?

many construction co now no job, and if construction sector fall many upstream suppliers will also fall and the fallout will be very great. unemployed masses also dont make good votes so lan lan must give them lucrative jobs to do.

  • Sad 1

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1 hour ago, coalminer said:

many construction co now no job, and if construction sector fall many upstream suppliers will also fall and the fallout will be very great. unemployed masses also dont make good votes so lan lan must give them lucrative jobs to do.

i think those smart one, will earn a bit from this  lucrative jobs, then they will scale down or closed until thing improve

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1 hour ago, The_King said:

i think those smart one, will earn a bit from this  lucrative jobs, then they will scale down or closed until thing improve

They will bid for many projects, siphoned the cash overseas. After projects start a few months, declare company bankrupt. The boss bankrupt in singapore, but his bolehsia bungalow got many gold bars waiting for him.

  • JSKM 1

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Posted (edited)

tiagong recession might be used as excuse to lower CPF rates

scary sia

 

 

Edited by dysentry
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21 minutes ago, dysentry said:

tiagong recession might be used as excuse to lower CPF rates

scary sia

 

 

i dun care as i got no chance to take out my money anyway

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18 minutes ago, The_King said:

i dun care as i got no chance to take out my money anyway

but will make it harder for moi to reach FRS 

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6 minutes ago, dysentry said:

but will make it harder for moi to reach FRS 

if you add inflation yearly to the min sum (say 5k per year) . after 25 yr later the current 181k will be  306k after 25yr

 

Capture1.jpg

 

https://www.cpf.gov.sg/Members/Schemes/schemes/retirement/retirement-sum-scheme

 

 

 

 

 

the question is how long you have to work to pay your house loan and also enough in order to reach 306k in 25yr time. provided the min sum increase 5k per yr. which is why i dont care. cause no chance to use them ever again

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