Singapore GDP grew by 2.5% in 1Q, says MTI advance estimates

SINGAPORE (April 13): The Singapore economy grew by 2.5% on a year-on-year basis in the first quarter of 2017 according to advanced estimates by the Ministry of Trade and Industry, easing from the 2.9% growth in the previous quarter.

On a quarter-on-quarter seasonally-adjusted annualised basis, the economy contracted by 1.9% after posting a strong rebound of 12.3% in the preceding quarter.

The advance GDP estimates are computed largely from data in the first two months of the quarter -- January and February 2017. They are intended as an early indication of the GDP growth in the quarter.

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