July 13, 2018 / 12:08 AM / a year ago

Singapore Q2 GDP expands 3.8 pct y/y, misses expectations

SINGAPORE, July 13 (Reuters) - Singapore’s trade-reliant economy grew slower than forecasts in the second quarter on a year-on-year basis, as the pace of manufacturing growth lost momentum, preliminary data showed on Friday.

Gross domestic product grew 3.8 percent in April-June from a year earlier, the Ministry of Trade and Industry said on Friday in a statement, versus the median forecast of a 4.0 percent expansion in a Reuters poll of economists. The economy decelerated from the revised 4.3 percent growth posted for January-March.

The economy expanded 1.0 percent in the second quarter from the previous three months on an annualised and seasonally adjusted basis.

That compares with a median forecast of 1.2 percent in the survey and slower than the revised 1.5 percent growth in the first quarter. (Reporting by Aradhana Aravindan; Editing by Sam Holmes)

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