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Financial News: Singapore GDP Growth Improves As Expected In Q1

Singapore GDP Growth Improves As Expected In Q1

04/13/2018 - 00:42:00 (RTTNews)

(RTTNews) - Singapore's economic growth accelerated in the three months ended March, in line with expectations, the advance estimate from the Ministry of Trade and Industry showed Friday.

Gross domestic product advanced 4.3 percent year-over-year in the first quarter, faster than the 3.6 percent growth seen in the fourth quarter.

The manufacturing sector expanded 10.1 percent annually in the March quarter, while the construction sector contracted by 4.4 percent. The services producing industries registered a growth of 3.8 percent.

On a quarter-on-quarter seasonally-adjusted annualized basis, the economy grew at a slower pace of 1.4 percent after a 2.1 percent expansion in the fourth quarter. The growth was forecast to ease to 1.2 percent.

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