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Singapore Q3 GDP shrinks but Q2 revision prevents recession

* 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 Trade and Industry released economic estimates for the third quarter of 2012 on Friday:

ACTUAL GDP (PCT CHANGE) Period Q3/2012 Q2/2012* Q1/2012 Q4/2011 Q3/2011 Q/Q -1.5 0.2 9.5 -2.5 2.0 Y/Y 1.3 2.3 1.5 3.6 6.0

*Q2 GDP revised from previously stated -0.7 pct q/q saar, +2.0 pct y/y

Notes:

- Q/Q SAAR is quarter-on-quarter, seasonally adjusted annualized rate.

- Y/Y is year-on-year. CONTEXT

- Singapore avoided becoming the first major Asian economy to slip into a technical recession this year as second quarter GDP was revised to show a slight expansion.

- The fall in Q3 GDP was led by manufacturing, which contracted 3.9 percent q/q SAAR but grew 0.7 percent y/y.

- Services expanded 0.1 percent q/q SAAR, while construction contracted 7.5 percent q/q SAAR.

- From a year earlier, services expanded 1.1 percent and construction grew 8.6 percent.

- Singapore reiterated its forecast for GDP growth of 1.5 to 2.5 percent this year. The economy grew 4.9 percent in 2011.

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(Reporting by Kevin Lim; Editing by Sanjeev Miglani and John O'Callaghan)

((Kevin.Lim@thomsonreuters.com)(65)(6403 5663))

Keywords: SINGAPORE ECONOMY/GDP