According to advance estimates released by the Ministry of Trade and Industry (MTI) on 14 April, GDP expanded 8.5% in the first quarter over the same period the previous year, which came in below the 12.0% growth tallied in Q4 2010. The Q1 2011 reading is equivalent to a seasonally adjusted annualized 23.5% expansion over the previous quarter, suggesting that the economy gained momentum at the outset of this year, as GDP accelerated from a 3.9% qoq saar expansion in the final quarter of last year. Market analysts expected a milder 11.4% qoq saar expansion. The first quarter reading reflected a deterioration in manufacturing activity, which expanded 13.9% (Q4: +25.5% year-on-year), as well as a moderation in the services sector. On the other hand, the construction industry rebounded from a 2.0% drop in Q4 2010 to a 2.6% expansion in the first quarter of this year. The advance estimates for Q1 2011 include data through to February and the final numbers for first quarter GDP growth will be released on 27 May.
Growth beats expectations in Q1 2011
April 14, 2011
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Singapore Economic News
October 17, 2016
In September, non-oil domestic exports (NODX) dropped 4.8% from the same month last year, deteriorating from August’s flat result.
October 14, 2016
According to advanced estimates released by the Ministry of Trade and Industry on 14 October, GDP declined a sharp 4.1% in Q3 from the previous quarter at a seasonally adjusted annualized rate (SAAR), down from Q2’s revised 0.2% rise (previously reported: +0.3% quarter-on-quarter).
October 14, 2016
At its second scheduled semi-annual meeting of 2016, which took place on 14 October, the Monetary Authority of Singapore (MAS) decided to leave the rate of appreciation of the Singapore dollar nominal effective exchange rate (S$NEER) policy band unchanged at zero percent.
October 3, 2016
The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) picked up from 49.8 in August to a 15-month high of 50.1 in September.
September 23, 2016
In August, consumer prices increased 0.5% compared to the previous month, contrasting the 0.3% decrease recorded in July.