The Monetary Authority of Singapore also narrowed the core inflation forecast to 1.5 to 2 per cent, from a previous prediction of 1.5 to 2.5 per cent.
On a quarter-on-quarter seasonally adjusted basis, Singapore's economy grew 1.1 per cent, compared to the 1.5 per cent growth in Q2.
Just as the luxury industry appeared to be turning a corner, demand in China has weakened again. LVMH’s fashion and leather goods sales fell 5 per cent, raising fresh questions about when the downturn will end.
