SINGAPORE: Economists expect Singapore to revise downwards second quarter gross domestic product growth from preliminary estimates when it releases a detailed report of the data at 8 a.m. (0000 GMT) on Aug 12, the Ministry of Trade and Industry said on Monday.
The advance estimates had put second quarter GDP growth at 3.7 percent year-on-year and 15.2 percent quarter-on-quarter on an annualised, seasonally adjusted basis.
Economists expect a downward revision in the wake of slightly weaker-than-expected June industrial production data.
There might be better news beforehand, however. Prime Minister Lee Hsien Loong is expected to reveal an upward adjustment in Singapore's full year growth forecast in his National Day address on Thursday evening.
A slight recovery in the global chip sector and strength in financial services, flagged by the central bank last month, has raised expectations that the full year growth forecast could be raised from 1-3 percent currently.
Singapore's economy grew by just 0.2 percent year-on-year in the first three months of 2013.
indiatimes.com
The advance estimates had put second quarter GDP growth at 3.7 percent year-on-year and 15.2 percent quarter-on-quarter on an annualised, seasonally adjusted basis.
Economists expect a downward revision in the wake of slightly weaker-than-expected June industrial production data.
There might be better news beforehand, however. Prime Minister Lee Hsien Loong is expected to reveal an upward adjustment in Singapore's full year growth forecast in his National Day address on Thursday evening.
A slight recovery in the global chip sector and strength in financial services, flagged by the central bank last month, has raised expectations that the full year growth forecast could be raised from 1-3 percent currently.
Singapore's economy grew by just 0.2 percent year-on-year in the first three months of 2013.
indiatimes.com
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