Singapore economy rises 0.1% last quarter; slower than expected, Dow Jones Says

SINGAPORE (Bloomberg) -- Singapore’s economy grew slower than initially estimated in the second quarter, Dow Jones reported.

Gross domestic product expanded 0.1% in the period ended June from the previous three months, DJ reported, citing final estimates from the Ministry of Trade and Industry on Friday.

That was worse than the preliminary reading of 0.3% growth and compares with a forecast of 0.4% expansion in a Bloomberg survey of economists.

The economy grew 0.5% in the second quarter from a year ago, compared with an earlier estimate of 0.7% expansion, according to DJ.

Singapore narrowed its view of GDP growth in 2023 to within 0.5% to 1.5% from a previous range of 0.5%-2.5%. - Bloomberg