Published:
Singapore economy grew faster in Q2, up 2.9%
This is compared to the 2.5% growth in Q1.
Things went well for Singapore after it posted a 2.9% economic growth in the previous quarter, a faster growth than Q1’s 2.5%.
On a quarterly basis, the economy reversed its 2.1% contraction and posted a 2.2% expansion.
The manufacturing sector grew 8.1%, offsetting the construction sector's 5.7% decline.
The wholesale & retail trade sector grew by 1.5% along with the transport sector's 3.5% growth.
The growth in information and communications sector eased to 1.8%, whilst accommodation and food services dropped 2.2%.
Meanwhile, the finance and insurance sector expanded 3.8%. The business services sector also posted a growth at 1.8%.
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