Singapore economic growth accelerates in second quarter, beating forecasts #cnbc

Singapore`s economic growth accelerated in the second quarter, with its gross domestic product rising 2.9 percent on-year, beating a Reuters poll forecast for 2. Quarter-on-quarter, the economy expanded by 2.2 percent on a seasonally-adjusted annualized basis, compared with a Reuters poll forecast for just 0. Manufacturing was a key driver of the growth, rising 8.1 percent on-year in the quarter. That was supported by the electronics and precision engineering sectors amid strong global demand for semiconductors and semiconductor-related equipment, according to a statement from Singapore`s Ministry of Trade and Industry. The forecast-beating outcome came despite contractions in the biomedical manufacturing, construction and accommodation and food services sectors. Singapore`s MTI changed its GDP forecast range for the full year to 2 percent to 3 percent, from 1 percent to 3...

Full article: http://worldnewslatestsummary.blogspot.com/2017/08/singap...

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Singapore economic growth accelerates in second quarter, beating forecasts

Singapore economic growth accelerates in second...

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