Singapore’s gross domestic product jumped 1.9 percent on year in the third quarter of 2015, the Ministry of Trade and Industry said on Wednesday – revised up from last month’s advance estimate that showed an increase of 1.4 percent.
GDP was up 2.0 percent on year in the second quarter.
On an annualized quarterly basis, GDP also expanded 1.9 percent – revised sharply higher from 0.1 percent in the advance reading.
GDP contracted 2.6 percent on quarter in the three months prior.
Upon the release of the data, the MTI said it expects the Singapore economy to grow almost 2 percent in 2015 and 1 to 3 percent in 2016.
The material has been provided by InstaForex Company – www.instaforex.com