Sign up | Log in



Home  >>   Daily News  >>   Singapore News  >>Economy  >> S’pore GDP contracts for first time in 7 quarters
NEW UPDATES Asean Affairs 17 July 2014  

S’pore GDP contracts for first time in 7 quarters

SINGAPORE: Singapore’s economy contracted in April to June for the first time in seven quarters, hit by a sharp drop in manufacturing activity, but economists said the weak reading was unlikely to alter the outlook for the city-state’s tight monetary policy.

Singapore’s gross domestic product (GDP) shrank by 0.8 per cent in the second quarter on a seasonally adjusted and annualised basis, the Ministry of Trade and Industry’s advance estimates showed yesterday, a much weaker outcome than the median forecast of 2.5 per cent growth seen in a Reuters survey.

The Singapore dollar briefly eased versus the US dollar, reflecting the weaker GDP numbers.

Manufacturing fell 19.4 per cent in the second quarter on a quarter-on-quarter, seasonally adjusted and annualised basis, down sharply from 12.2 per cent growth in the first quarter, the data showed.

The last time Singapore’s GDP contracted in the seasonally adjusted annualised quarter-on-quarter advance estimates was in the third quarter of 2012, when GDP shrank 3.6 per cent.

The government expects Singapore’s economy to grow two to four per cent this year after expanding by 3.9 per cent last year, and economists have generally tipped full-year 2014 growth to come in near the upper end of the official forecast. Reuters

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories                            July 17, 2014 Subsribe Now !
• ASEAN Calls for Support to Recovery of Typhoon Haiyan-affected Communities in the Philippines Subcribe: Asean Affairs Global Magazine
• Toyota records 23% business growth in June
• S’pore GDP contracts for first time in 7 quarters
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• AirAsia is World’s Best Low Cost Airline for 6 years straight!
• IPs, EPZs lure large FDI garment projects
Asean Analysis                    July 15, 2014

• Asean Analysis July 15, 2014
Singapore: Many unhappy with work and social realities
Advertise Your Brand

Asean Stock Watch    July 16, 2014
• Asean Stock Watch-July 16, 2014
The Biweekly Update
• The Biweekly Update  July 11, 2014

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2020 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand