13 Aug '18, 12am

Singapore's GDP growth disappoints as construction slumps

LISTEN TO ARTICLE 3:10 SHARE THIS ARTICLE Facebook Twitter LinkedIn Email Singapore’s economy grew at a slower pace in the second quarter than initially projected as construction plunged. Key Highlights Gross domestic product rose at seasonally adjusted, annualized rate of 0.6% in second quarter from prior three months, trade ministry said Monday; Bloomberg survey median was 1.4% Government’s previous projection was 1%; growth eased from 2.2% in first quarter GDP expanded 3.9% in second quarter from same period in 2017, versus survey median of 4.1% The export-reliant city state was already facing a high bar for growth this year following a boom in electronics demand in 2017 that fueled global trade. After last year’s expansion of 3.6 percent, growth is set to moderate to a range of 2.5 percent to 3.5 percent in 2018, a forecast that the government retained on Monday. Exter...

Full article: https://www.bloomberg.com/news/articles/2018-08-13/singap...

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