atans1

Economy worse than PAP, MSM, alt media spin

In Economy, Media on 28/07/2019 at 9:29 am

Singapore’s GDP growth drops to 0.1% in Q2, lowest since 2009’s Great Recession

TOC headline

Singapore’s GDP foretasted to grow by 0.1% in Q2 2019

TRE headline

Now these aped the MSM spin

Singapore economic growth slows to 0.1% in Q2, lowest in a decade

CNA

Singapore growth forecast risks sharper downgrade as Q2 GDP scrapes in at 0.1%

BT

Singapore’s economy grows just 0.1% in Q2, lowest in decade and worse than expected

ST

As Chris K KPKBed, the MSM headlines and opening paras put the best spin out a bad situation.

The reality is a lot worse

How bad things are

On a quarter-on-quarter seasonally adjusted annualised basis,  GDP contracted by 3.4%, way below the median forecast of 0.1% in a Reuters poll. This was a reversal from the 3.8% growth in the previous quarter and marked the worst quarter-on-quarter performance since the third quarter of 2012. The economy also registered its lowest growth in a decade, expanding just 0.1% on year in the second quarter, missing a forecast rise of 1.1%.

“Only cold spell coming, but not Winter,” says Heng

Question is why is alt media also helping out the PAP govt?

In case of TRE it’s likely that this was “an honest mistake”: TeamTRE are volunteers and stretched. And their cybernut readership is only booing at the PAP. Ask them to help out and they disappear.

In TOC’s case, the bunch of Indians based in India writing for TOC don’t know jackshit nor do they care about the S’pore economy.  TOC: A lot of bull.

At least FTs work here and pay GST and other taxes. Terry’s team work overseas. And TOC and its cybernut readers criticise the PAP govt for allowing in FTs?

 

  1. tertiary educated local men to migrate to western countries to look for good jobs ?

  2. Local alt media not trained in econs or finance … and can’t be bothered to educate themselves over the past 20 years even after venturing into sociopoliticoeconomic issues.

    They didn’t know common practice is to specify quarterly GDP figures as annualised Q-on-Q, and not annualised Y-on-Y (which is what MSM reported to portray a “positive” number).

    I mean … same reports by MSM quoting Maybank economist & other analysts of possible technical recession by Q3 should have clued them in (i.e. 2 consecutive quarters of -ve Q-on-Q readings).

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: