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4,300 manufacturing workers lost their jobs in 3Q.
Employees in the manufacturing sector can’t seem to catch a break as weak demand continues to be the thorn in the sector’s side.
According to a report by the Monetary Authority of Singapore (MAS), the job losses in 3Q came just after 4,400 workers were laid off in the same sector last quarter.
SINGAPORE: Singapore has upgraded its economic growth forecast for the year, boosted by growth in the services and manufacturing sectors.
The economy is now expected to grow between 3.5 and 4 per cent, up from an earlier forecast of 2.5 to 3.5 per cent.
Singapore's economic growth picked up pace between July and September.
Third quarter Gross Domestic Product (GDP) rose 5.8 per cent on-year. This is compared to the 4.4 per cent growth in the previous quarter, and higher than advance estimates of a 5.1 per cent growth.
