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Singapore first-quarter GDP contracts 1.9 percent qtr/qtr, in line with forecasts
April 13, 2017 / 12:27 AM / 8 months ago

Singapore first-quarter GDP contracts 1.9 percent qtr/qtr, in line with forecasts

SINGAPORE (Reuters) - Singapore’s trade-reliant economy shrank 1.9 percent in the first quarter from the previous three months on an annualised basis, weighed by contractions in manufacturing and services, preliminary data showed on Thursday.

People shop for shoes at a mall in Singapore May 12, 2016. REUTERS/Edgar Su

That matched the median forecast in a Reuters survey of a contraction of 1.9 percent from the previous quarter on an annualised basis. In the fourth quarter GDP had jumped 12.3 percent quarter-on-quarter.

Reporting by Singapore bureau; Editing by Sam Holmes

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