Singapore’s GDP growth beats expectations with 2.6% expansion in Q1
Up from 2.1% in Q4.
The Ministry of Trade and Industry (MTI) today revealed that Singapore’s GDP posted a 2.6% year-on-year growth in the first quarter of 2015, faster than the 2.1% growth in the preceding quarter.
This figure is also above the MTI's flash estimate of a 2.1% expansion and beat market expectations of 2.2% growth.
The MTI noted that the economy expanded by 3.2% on a quarter-on-quarter seasonally-adjusted annualised basis, a slower pace of growth compared to the 4.9% expansion in Q4.
The MTI maintained its GDP growth forecast for 2015 of a 2.0-4.0% expansion.