, Singapore

See how Singapore's GDP growth went spiraling down over a four-year period

This quarter's performance was higher than expected.

Singapore’s growth in the second quarter of this year was primarily dragged by the manufacturing sector, which registered higher growth than expected while other growth pillars such as construction and services fell below expectations.

In a report, OCBC details that there may be a modest recovery in electronic output in 2H14, as the economy grew in tandem with the healthy global economic backdrop. Furthermore, the manufacturing drag was also due to a “one-off drop, attributed to a single company and for reasons specific to the company,” which dragged the semiconductor sector in April-May. This, together with a healthy global economic backdrop, may suggest that the slowdown in Singapore’s manufatcuring sector has bottomed-out.

OCBC adds that 1H14 growth of 3.5% yoy is a decent print compared to 2.75% for the same period last year. For 2H14, OCBC reiterates that the healthy global economic backdrop, as well as the likely bottoming-out in the manufacturing sector should allow growth to print above 3.0%.


 

Join Singapore Business Review community
A NOTE FROM SINGAPORE BUSINESS REVIEW

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.


The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.


So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Top News

7 in 10 unprepared for AI-driven cyberattacks
Only 38% said their organisation provided training on how to use AI whilst avoiding exploitation.
CCS overhauls passenger airline alliance framework
Airline alliance notifications are now streamlined into a three-step approach.
Aviation
Raffles Medical net profit falls 9.6% to $29m in H1
Its healthcare services division posted a 16% drop in revenue to $119.5m.
Healthcare