Singapore's economy grows 2.1 percent in Q2
(MENAFN) Singapore's Ministry of Trade and Industry said that the country's economy grew 2.1 percent in the April-June period on-year, driven down by a slowdown in manufacturing, Xinhua reported.
The increase was smaller than the 4.7 percent growth recorded in the first quarter. It is also lower than the market estimates.
On a quarterly annual basis, the economy shrank by 0.8 percent, following a growth of 1.6 percent which was posted in the first quarter.
In the second quarter, the manufacturing sector, which accounted for about one fifth of the Singapore economy, grew 0.2 percent on year, down from the 9.9 percent increase in the first quarter of 2014.
The increase was smaller than the 4.7 percent growth recorded in the first quarter. It is also lower than the market estimates.
On a quarterly annual basis, the economy shrank by 0.8 percent, following a growth of 1.6 percent which was posted in the first quarter.
In the second quarter, the manufacturing sector, which accounted for about one fifth of the Singapore economy, grew 0.2 percent on year, down from the 9.9 percent increase in the first quarter of 2014.
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