SINGAPORE (Aug 11): Singapore’s GDP growth forecast for 2016 has been cut to 1.0-2.0% from 1.0-3.0% by the Ministry of Trade and Industry (MTI).

In the 2Q, Singapore’s economy grew by 2.1% on a year-on-year basis, unchanged from the first quarter.

On a quarter-on-quarter seasonally-adjusted annualised basis, the economy expanded by 0.3%, slightly faster than the 0.1% growth in the preceding quarter.

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