4.4 percent GDP growth in Q1 2018, with firm expansion in manufacturing

Singapore's economic growth in the first quarter of 2018 was revised higher, according to a Reuters report. There was a firm expansion in the manufacturing sector. 

In the January-March quarter, the economy grew 1.7 percent from the previous three months. This was on an annualised and seasonally adjusted basis, according to revised final figures from the Ministry of Trade and Industry (MTI).

Photo: Connected to India
Photo: Connected to India

The initial estimate by the government was a 1.4 percent growth. 

Gross domestic product (GDP) grew 4.4 percent in the first quarter from a year earlier. This was faster than the advance estimate of 4.3 percent growth.

MTI's GDP forecast range for the year has also been revised from 1.5 to 3.5 percent to 2.5 to 3.5 percent.

Singapore's economic growth last year was 3.6 percent in 2017 – the fastest pace in 3 years, according to MTI. 

Author
Kareyst Lin
Kareyst Lin – Senior Writer

Kareyst has experience in writing about B2B technology for Computerworld Singapore, MIS Asia and CIO Asia; and on government technology for GCIO Asia. Her pet areas are artificial intelligence, Internet of Things and smart cities - these are fueled by her obsession with sci-fi movies and philosophy of mind. An active Yoga practitioner and cat lover, with a background in Indian philosophy, subaltern and diaspora studies.

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