The Singapore economy grew by 2.6% on a year-on-year basis in the first quarter of 2015, faster than the 2.1% growth in the preceding quarter, said the Ministry of Trade and Industry (MTI).
In a statement, the MTI said the gross domestic product (GDP) growth forecast for 2015 is maintained at 2% to 4% .
On a quarter-on-quarter seasonally-adjusted annualised basis, the economy expanded by 3.2%, moderating from the 4.9% growth in the preceding quarter.
The manufacturing sector contracted by 2.7% year-on-year, extending the 1.3% decline in the previous quarter.
This was primarily due to the decline in the output of transport engineering, electronics and biomedical manufacturing clusters.
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In a statement, the MTI said the gross domestic product (GDP) growth forecast for 2015 is maintained at 2% to 4% .
On a quarter-on-quarter seasonally-adjusted annualised basis, the economy expanded by 3.2%, moderating from the 4.9% growth in the preceding quarter.
The manufacturing sector contracted by 2.7% year-on-year, extending the 1.3% decline in the previous quarter.
This was primarily due to the decline in the output of transport engineering, electronics and biomedical manufacturing clusters.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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