Singapore's economy contracted 5.8 percent year-on-year in the third quarter of 2020 (Q3 2020), moderating from the 13.3 percent contraction recorded in the previous quarter, according to the republic's Ministry of Trade and Industry (MTI).

In a statement issued today, MTI said the island city's economy expanded 9.2 percent on a quarter-on-quarter, seasonally-adjusted basis during the period, a turnaround from the 13.2 percent contraction in Q2 2020...