* Q3 GDP -1.5 pct q/q vs median forecast of -1.0 pct
* Q3 GDP +1.3 pct y/y vs median forecast of +1.2 pct
* Singapore avoids recession with Q2 q/q revision
* Reiterates full-year GDP outlook
SINGAPORE, Oct 12 (Reuters) - Singapore's Ministry of Tradeand Industry released economic estimates for the third quarterof 2012 on Friday:
ACTUAL GDP (PCT CHANGE)Period Q3/2012 Q2/2012* Q1/2012 Q4/2011 Q3/2011Q/Q -1.5 0.2 9.5 -2.5 2.0Y/Y 1.3 2.3 1.5 3.6 6.0
*Q2 GDP revised from previously stated -0.7 pct q/q saar, +2.0pct y/y
- Q/Q SAAR is quarter-on-quarter, seasonally adjustedannualized rate.
- Y/Y is year-on-year.CONTEXT
- Singapore avoided becoming the first major Asian economyto slip into a technical recession this year as second quarterGDP was revised to show a slight expansion.
- The fall in Q3 GDP was led by manufacturing, whichcontracted 3.9 percent q/q SAAR but grew 0.7 percent y/y.
- Services expanded 0.1 percent q/q SAAR, while constructioncontracted 7.5 percent q/q SAAR.
- From a year earlier, services expanded 1.1 percent andconstruction grew 8.6 percent.
- Singapore reiterated its forecast for GDP growth of 1.5 to2.5 percent this year. The economy grew 4.9 percent in 2011.
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(Reporting by Kevin Lim; Editing by Sanjeev Miglani and JohnO'Callaghan)
Keywords: SINGAPORE ECONOMY/GDP