Singapore growth slows in Q2
Singapore's economic growth slowed to 1.9 per cent in the second quarter, down from 6.9 per cent in the first three months due to a slump in biomedical manufacturing, the government said.
By Agencies |
SINGAPORE: Singapore's economic growth slowed to 1.9 per cent in the second quarter, down from 6.9 per cent in the first three months due to a slump in biomedical manufacturing, the government said on Thursday.
The figures measure growth against the same period a year earlier and represented a more severe slowing than the 2.3 per cent forecast in a poll.
On a quarter-on-quarter seasonally adjusted annualised basis, real GDP declined by 6.6 per cent in the second quarter after an increase of 15.6 per cent the previous quarter, the Ministry of Trade and Industry said.
The government of Singapore, Southeast Asia's most advanced economy, has estimated full-year GDP growth of four to six per cent.
The advance GDP estimates for the second quarter are based largely on April and May data. More detailed figures are to be released later.
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