10 Aug '11, 1am

Singapore's economy expands 0.9 per cent in Q2

Singapore's economy expands 0.9 per cent in Q2

The Singapore economy grew 0.9 per cent in the second quarter from a year ago, slightly above the advance estimates, the Ministry of Trade and Industry said. -- ST PHOTO: JOYCE FANG By Robin Chan THE Singapore economy grew 0.9 per cent in the second quarter from a year ago, slightly above the advance estimates, the Ministry of Trade and Industry said. As Prime Minister Lee Hsien Loong had said in his National Day message, growth in the first half of the year expanded 4.9 per cent and the Government narrowed the full year growth forecast to between 5 and 6 per cent from between 5 and 7 per cent. The manufacturing sector contracted 5.9 per cent in the second quarter from last year on lower pharmaceuticals and electronics production. Financial services expanded 10 per cent and tourism-related industries also expanded, with hotels and restaurants rising 6.4 per cent and other ...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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