GDP numbers in line with expectation: DBS

The sequential growth figure suggests that underlying growth momentum has remained fairly robust, according to DBS.

DBS stated, “Headline growth registered 8.3% YoY, down slightly from 8.5% announced in the advance estimates. Yet, this still translates into a strong 22.5% QoQ saar expansion, driven by a surge in pharmaceutical output growth in March as well as a steady push from the services industry.”

The bank said the first quarter GDP growth has lifted the full year GDP trajectory while it expects economic growth in the second quarter to be the weakest due to the high oil prices and the Japan crisis.

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