Singapore seen upgrading Q1 GDP on manufacturing growth

A technician pushes a cart in the cleanroom at Fab7 at the Globalfoundries Inc. semiconductor fabrication (fab) facility in Singapore, on Tuesday, May 18, 2021, - Bloomberg

SINGAPORE, May 24 (Reuters): Singapore's economy is expected to have grown 0.9% in the first quarter on a year-on-year basis, an improvement from earlier estimates, due to stronger-than-expected performance in the manufacturing sector, according to a Reuters poll of economists.

That compares with a 0.2% rise in gross domestic product in the government's advance estimates. Singapore's central bank expects economic growth to exceed the upper end of the official 4-6% forecast range, recovering from the recession induced by the Covid-19 pandemic in 2020, its worst on record.