Posted on 12 Jul 2013
Singapore’s economy posted a 3.7 per cent on-year growth for the second quarter of 2013, said the Ministry of Trade and Industry in advanced estimates released Friday.
Singapore’s economy posted a 3.7 per cent on-year growth for the second quarter of 2013, said the Ministry of Trade and Industry in advanced estimates released Friday.
This is compared to the 0.2 per cent recorded in the preceding quarter.
On a quarter-on-quarter seasonally-adjusted annualised basis, the economy grew by 15.2 per cent, faster than the 1.8 per cent growth in the previous quarter.
The manufacturing sector expanded 1.1 per cent on-year, reversing the 6.9-per cent contraction in the previous quarter. On a quarter-on-quarter basis, the sector grew 37.6 per cent, in contrast to the 12.7-per cent decline in the preceding quarter.
The construction sector grew 5.6 per cent on-year, compared to 6.8 per cent in the preceding quarter. The sector grew 9.0 per cent on-quarter, moderating from 14.3-per cent growth in the previous quarter.
The services producing industries grew 5.0 per cent on-year, compared to 2.7-per cent growth in the previous quarter. The sector grew 9.0 per cent on-quarter, faster than the growth of 8.1 per cent in the preceding quarter.
