Singapore's economy contracted by 7% year-on-year in the third quarter, official estimates show

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Analysts polled by Reuters had expected the Singapore economy to shrink by 6.8% year over year in the third quarter.

Singapore's economy contracted by 7% in the third quarter compared with a year ago, according to official estimates released by the Ministry of Trade and Industry.

A man wearing a protective face mask walks past an indoor waterfall at Jewel Changi Airport in Singapore.SINGAPORE — Singapore's economy contracted by 7% in the third quarter compared with a year ago, according to official estimates released by the Ministry of Trade and Industry on Wednesday.

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They have officially changed their name to Singapoor.

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