SINGAPORE: 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.
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