Singapore GDP Revised Up to 2.6% in Q1
The Singapore's economy expanded by 2.6 percent on a year-on-year basis in the first quarter of 2015, up from a 2.1 percent growth in the preceding quarter and a preliminary estimate, as an expansion in the wholesale & retail trade and construction sector offset a decline in the manufacturing and a slowdown in the finance & insurance sector.
Year-on-year, the wholesale & retail trade sector grew by 4.1 percent, much faster than a 0.6 percent growth in the last quarter, mainly driven by an expansion of the wholesale trade segment on the back of improvements in non-oil re-exports.
5/26/2015 2:42:18 AM
Singapore Economy Grows at Steady Pace in Q1
The Singapore's economy expanded by 2.1 percent on a year-on-year basis in the first quarter of 2015, the same pace as in the preceding three month period as an expansion in the construction and the services sector offset a decline in the manufacturing.
Published on 2015-04-14
Singapore Economic Growth At Almost 2-Year Low
The Singapore economy expanded by 2.1 percent on a year-on-year basis in the fourth quarter of 2014, easing from the 2.8 percent rise in the preceding quarter as stronger growth in services was not enough to offset a decline in manufacturing.
Published on 2015-02-17
Singapore Economic Growth Slows in Q4
Singapore GDP expanded by 1.5 percent on a year on year basis in the fourth quarter of 2014, compared to 2.8 percent growth reported in the previous period, according to advance estimates. While expansion in construction and services moderated, manufacturing contracted.
Published on 2015-01-02
Singapore GDP Growth Revised UP
Singapore's GDP advanced 2.8 percent year-on-year in the third quarter of 2014, up from a revised 2.3 percent expansion in the preceding quarter and a preliminary estimate of 2.4 percent. The figure came above expectations, mainly driven by manufacturing.
Published on 2014-11-25
The construction sector expanded by 3.31 percent following a 0.7 in the previous quarter, supported by a pick-up in private sector construction activities.
The manufacturing sector contracted by 2.7 percent, following a 1.3 percent decline in the previous quarter, mainly due to a fall in output of the transport engineering, electronics and biomedical manufacturin clusters.
The finance & insurance grew by 7.9 percent, slowing from a 10.3 percent growth in the preceding quarter. Growth of the sector was largely underpinned by the banking cluster, which experienced resilient loans growth and higher net interest margins.
The transportation & storage sector expanded by 1.5 percent, rebounding from a 0.4 percent drop in the previous quarter, mainly due to an increase of the water transport segment, particularly in sea cargo handling.
The accommodation & food services contracted by 0.4 percent, reversing from a 1.3 percent growth in the fourth quarter, largely due to an annual 6.1 percent fall in visitor arrivals.
The information & communications expanded by 4.6 percent, as compared to a 4.4 percent expansion in the previous quarter, mainly driven by the IT & technology services segement.
The business sector advanced by 2.8 percent, as compared to a 2.9 percent growth in the previous quarter, mainly due to the rental & leasing, other professional, scientific & technical services, and other administrative & support services segements.
The other services industries grew by 2.0 percent, slowing from a 2.4 percent in the December quarter. Growth of the sector was weighed down by the arts, entertainment & recreation segement.
For 2015, the Singapore economy is expected to grow at a modest pace of 2.0 to 4.0 percent.
On a quarter-on-quarter seasonally-adjusted annualised basis, the economy expanded by 3.2 percent, moderating from a 4.9 percent expansion in the preceding quarter quarter. The expansion was mainly driven by: the wholesale & retail trade sector (15.1 percent growth from 0.6 percent in the preceding quarter); the construction sector (12.9 percent growth from 2.2 percent) and the transportation & storage (+6.7 percent from +0.3 percent). The manufacturing sector marginally grew by 0.2 percent from a 2.5 percent contraction in the preceding quarter. In contrast, a contraction were seen for: the accommodation & food services (-1.2 percent from -7.4 percent); the information & communications (-0.1 percent from +5.1 percent); the finance & insurance (-12.5 percent from + 36.2 percent) and the other services industries (-0.2 percent from +1.5 percent).