RHB | Singapore | Singapore’s Economy Avoided A Contraction

Economic Research	13 August  2014
Singapore
Economic Highlights
Singapore’s Economy Avoided A Contraction The second reading of the Singapore’s economy showed the economy grew by 0.1% annualised rate in the 2Q, an upward revision from -0.8% estimated previously, mainly on account of a stronger-than-expected growth in manufacturing production. The 2Q annualised real GDP growth, however, was much slower than a revised +1.8% in 1Q 2014, due mainly to the reversal of goods producing industries into a contraction in the 2Q. A pick-up in the services industries in the 2Q, however, provided some mitigation. Economist:  Singapore Research  | +65 6533 0781