Singapore's GDP grows 0.5% in Q2
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Posted: 14 July 2011 0803 hrs
SINGAPORE: Singapore's GDP grew by 0.5 per cent on a year-on-year basis in the second quarter of 2011, down from the 9.3 per cent growth in the previous quarter.
On a seasonally-adjusted quarter-on-quarter annualised basis, the economy contracted by 7.8 per cent, compared to the 27.2 per cent expansion in the previous quarter.
The advance estimates released by the Ministry of Trade and Industry (MTI) on Thursday said the moderation in growth reflected a slowdown across many sectors.
The manufacturing sector had the biggest contraction of 5.5 per cent on-year in the second quarter of 2011.
The construction sector grew by 1.6 per cent on a year-on-year basis in the second quarter of 2011.
Growth in the services producing industries moderated. Services producing industries grew by 3.3 per cent on a year-on-year basis.
On a sequential basis, the services producing industries declined by an annualised rate of 2.9 per cent.
MTI said it will release in August the preliminary GDP estimates for the second quarter, including performance by sectors, sources of growth, inflation, employment and productivity in its Economic Survey of Singapore.
- CNA -
To ensure continuous GDP growth, cost of living must keep going up. The only group of people who constantly reap profits from it is none other than the white elephants.
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before and after
ELECTION !!!
is someone cooking ?
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We need to increase our intake of foreigners to boost GDP.
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No worry 90,000 indians coming.
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Originally posted by charlize:
We need to increase our intake of foreigners to boost GDP.
We can import one million from china. GDP 50 % growth also can.