Singapore Q2 GDP rises 4.8% y/y, missing forecasts

07/14/2022

Less than a minute

2022.07.14 03:27

Singapore Q2 GDP rises 4.8% y/y, missing forecasts
FILE PHOTO: A man passes the city skyline during the coronavirus disease (COVID-19) outbreak, in Singapore, September 29, 2021. REUTERS/Edgar Su

SINGAPORE (Reuters) – Singapore’s economy grew 4.8% in the second quarter, missing forecasts, preliminary data showed on Thursday.

Economists polled by Reuters had expected an increase of 5.2% year-on-year for the second quarter.

On a quarter-on-quarter seasonally adjusted basis, GDP was unchanged in April-July, according to advance estimates from the Ministry of Trade and Industry.

Singapore has eased most of its COVID-19 local and travel restrictions since early April this year, supporting the economic recovery of the Asian financial hub.

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07/14/2022

Less than a minute