Singapore economy likely down 2.5% in 3Q

Trump's victory seen a major recession risk catalyst.

Singapore's economy is expected to have contracted at a less steeper pace than first estimated, but the city state remains at risk of a recession due to weak exports and uncertainty around global trade after Republican Donald Trump's U.S. election win.

A Reuters survey of 17 analysts forecast July-September gross domestic product (GDP) to be down 2.5 percent from the previous quarter on an annualized basis, versus the advance estimate of an unexpectedly sharp 4.1 percent contraction.

The upward revision was likely helped by industrial production in September exceeding forecasts, although the bigger picture for the affluent city state was one of intensifying headwinds in the wake of Trump's upset win.

Read more here from Reuters.