Singapore’s gross domestic product gained 2.6 percent on year in the first quarter of 2015, the Ministry of Trade and Industry said in Tuesday’s revision.
That’s up from the April 14 preliminary reading that called for an increase of 2.1 percent, which would have been unchanged from the previous three months.
Seasonally adjusted and on an annualized quarterly basis, GDP added 3.2 percent – up sharply from the preliminary reading of 1.1 percent but still down from 4.9 percent in the three months prior.
Upon the release of the data, the MTI said it expects the Singapore economy to grow at between 2 and 4 percent in 2015.
The material has been provided by InstaForex Company – www.instaforex.com