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Singapore avoids Q2 contraction, but slowing services sector a risk
http://www.reuters.com/article/2014/08/12/singapore-economy-gdp-idUSL4N0QE45L20140812
The economy's sluggish performance in the second quarter means official forecasts for 2014 as a whole have been lowered.
Trade agency International Enterprise Singapore on Tuesday revised down its 2014 non-oil domestic exports forecast to a 1.0-2.0 percent contraction from the previous expectation for 1.0-3.0 percent growth.
That follows the weak performance by the trade-dependent manufacturing sector, particularly the electronics industry. Manufacturing activity fell 15.2 percent in April-June from the previous quarter on a seasonally adjusted and annualised basis. That compared with the advance estimate of a 19.4 percent contraction released on July 14.
http://www.reuters.com/article/2014/08/12/singapore-economy-gdp-idUSL4N0QE45L20140812
The economy's sluggish performance in the second quarter means official forecasts for 2014 as a whole have been lowered.
Trade agency International Enterprise Singapore on Tuesday revised down its 2014 non-oil domestic exports forecast to a 1.0-2.0 percent contraction from the previous expectation for 1.0-3.0 percent growth.
That follows the weak performance by the trade-dependent manufacturing sector, particularly the electronics industry. Manufacturing activity fell 15.2 percent in April-June from the previous quarter on a seasonally adjusted and annualised basis. That compared with the advance estimate of a 19.4 percent contraction released on July 14.
