19 May '11, 1am

Singapore revises GDp growth forecast to 5-7% following strong Q1 performance

Singapore revises GDp growth forecast to 5-7% following strong Q1 performance

The Singapore economy grew a better than expected 8.3 per cent in the first quarter this year from the same period last year led by the manufacturing sector. --ST PHOTO: DESMOND LIM THE Singapore economy grew a better than expected 8.3 per cent in the first quarter this year from the same period last year led by the manufacturing sector. The strong first quarter performance led to growth for the full year being revised upwards to between 5 per cent to 7 per cent from between 4 per cent to 6 per cent, the Ministry of Trade and Industry said. The near term external environment is also expected to be conducive to Singapore's growth for the rest of the year, it said. Economic expansion is expected to be supported by growth in the manufacturing sector and financial services. However risks remain in Europe's sovereign debt problems, from pressure on oil prices from political tur...

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

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