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)