Singapore’s economy probably slowed and may even have contracted sequentially during the second quarter of 2012 amid lacklustre performance by manufacturers and weakness in the financial sector.
According to a Reuters poll of 11 economists, advance estimates this Friday will likely show Singapore’s GDP grew by just 0.3 percent in April-June on a quarter-on-quarter, seasonally adjusted and annualised rate, slowing sharply from the first quarter’s 10 percent pace.
Five of the 11 economists who provided quarter-on-quarter gross domestic product estimates predicted a sequential contraction in the second quarter.
(Source: The Malaysian Insider )