SINGAPORE (Reuters) -Singapore’s economy grew faster than expected in the second quarter, preliminary government data showed on Monday.
Gross domestic product was up 4.3% in the April to June period on a year-on-year basis, according to advance estimates from the trade ministry. Economists polled by Reuters had expected growth of 3.5%.
On a quarter-on-quarter seasonally adjusted basis, GDP expanded 1.4% in the April to June period, advance estimates show, avoiding a technical recession after the first quarter’s revised 0.5% contraction.
(Reporting by Xinghui Kok; additional reporting by Jun Yuan Yong)
Comments