Sin­ga­pore’s Q2 GDP up 2.5%

China Daily (Hong Kong) - - BUSINESS -

Sin­ga­pore’s Min­istry of Trade and In­dus­try an­nounced on Fri­day the is­land-na­tion’s GDP grew 2.5 per­cent year-on-year in the sec­ond quar­ter of this year, the same pace of growth as in the pre­vi­ous quar­ter. On a quar­ter-on­quar­ter sea­son­ally ad­justed an­nu­al­ized ba­sis, the econ­omy ex­panded 0.4 per­cent in the pe­riod, com­pared to a 1.9-per­cent de­crease in the pre­ced­ing quar­ter. Ac­cord­ing to the min­istry, Sin­ga­pore’s man­u­fac­tur­ing sec­tor saw a year-on-year rise of 8 per­cent in the pe­riod, com­pared to an 8.5 per­cent rise in the first quar­ter of 2017. The growth was sup­ported mainly by the elec­tron­ics and pre­ci­sion en­gi­neer­ing clus­ters, which saw ro­bust ex­pan­sions on the back of strong ex­ter­nal de­mand for semi­con­duc­tors and semi­con­duc­tor man­u­fac­tur­ing equip­ment re­spec­tively.

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