, Singapore

Singapore's economy posts 1.8% growth in Q1

Construction was a bright spot.

The Singapore economy grew by 1.8% year-on-year in the first quarter of 2016, the same pace of growth as in the previous quarter.

Statistics released by the Ministry of Trade and Industry (MTI) show that growth was supported by robust expansion in the construction sector, which grew by 6.2% year-on-year in Q1. This compares with the 4.9% growth recorded in the preceding quarter.

Meanwhile, the manufacturing sector contracted by 2.0% in Q1, an improvement from the 6.7% decline in the preceding quarter.

Growth in the services producing industries moderated to 1.9% during the quarter, compared to 2.8% in the preceding period.
 

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