Singapore GDP growth eases to one-year low: MTI prelim data

SINGAPORE (July 13): Singapore’s economy expanded at a slower pace than forecast in the second quarter, clouding the outlook for the export-reliant city state at a time when global trade risks are rising.

Gross domestic product rose at a seasonally adjusted, annualised rate of 1% from prior three months, according to preliminary data from trade ministry on Friday. The Bloomberg survey median was 1.3%.

Growth was weakest since a contraction in the first quarter of 2017, data showed. GDP expanded 3.8% from a year earlier, compared with the median estimate of 4.1%.

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