Mubasher: Singapore's economy grew faster than initial estimates during the first quarter of 2018 that propels the Southeast Asian nation’s government to increase growth estimate for the full-year.
Singapore’s gross domestic product (GDP) went up 4.4% in Q1-18, the Ministry of Trade and Industry’s report showed on Thursday.
Quarter-on-quarter, GDP grew 1.7% in the three-month period ended 31 March 2018, but slowed from 2.1% in Q4-17.
Manufacturing output levelled up 9.8% year-on-year in Q-1, up from 4.8% in Q4-17, the data showed.
“The government narrowed its full-year growth estimate to between 2.5% and 3.5% from an earlier projection of between 1.5% and 3.5% growth after the services sector grew stronger than previously estimated in the first quarter,” according to Marketwatch.