Singapore said on Thursday the economy grew 1.6 percent year-on-year in the first quarter, unchanged from its earlier estimate, confounding economists who had predicted an upward revision.
Economists surveyed by Reuters had a consensus forecast of 1.8 percent growth.
On an annualised and seasonally adjusted quarter-on-quarter basis, Singapore’s economy expanded by 10 percent, slightly above the 9.9 percent flash estimate released in April.
(Source: CNBC)