Singapore’s 1Q GDP Revised Marginally Higher

Economic Research	26 May 2016
Singapore
Economic Highlights
Singapore’s 1Q GDP Revised Marginally Higher Singapore’s economy barely barged in 1Q, edging higher by 0.2% q-o-q on a seasonally adjusted, annualised (SAAR) basis, slightly better the advance reading of a stagnant growth but marked a rapid deceleration from its 6.2% bounce in 4Q 2015. The weakness was broad-based with gross fixed capital formation (GFCF), private and government consumption as well as exports all suffering negative swings compared the preceding quarter. However, tourism activities, non-residential construction works and investment in machinery & equipment managed to buck the downbeat trend, providing some bright spots for 1Q economic growth. Y-o-y, the island’s 1Q GDP growth expanded 1.8%, mirroring its pace of growth from the previous two quarters prior. Economist:  Ng Kee Chou | +603 92802179
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