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            october 23, 2019

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Singapore GDP slows in second quarter to 2pc


Singapore's economy grew by 2.1 per cent in the second quarter compared to the same period a year earlier, and half as fast as the first quarter's 4.7 per cent growth, according to Shipping Gazette.
Year on year, the manufacturing sector grew 0.2 per cent in the second quarter, moderating from the 9.9 per cent in the previous quarter, according to the Ministry of Trade and Industry.
The decline was attributed to a contraction in electronics output and slower growth in transport and engineering.
The construction sector rose by five per cent on a year-on-year basis, compared to 6.4 per cent in the preceding quarter on a slowdown in private sector construction activities.
The services producing industries increased by 2.8 per cent, following the 3.9 per cent growth in the first quarter, on the back of slower expansion in the wholesale and retail trade and transportation and storage sectors.

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