Singapore (VNA) - Singapore's economy is expected tohave grown 0.9 percent in the first quarter on an annual basis, an improvementfrom earlier estimates, thanks to stronger-than-expected performance in themanufacturing sector, according to a poll of economists by Reuters.
Meanwhile, the Singaporean Government previously estimated thecountry’s gross domestic product (GDP) to go up 0.2 percent in the period.
This year's GDP growth will continue to be driven by themanufacturing and trade-related services sectors, said Alex Loo, macro strategist at TD Securities.
The country’s industrial production in April is forecast byeconomists to expand 3.4 percent on year, the sixth straight month of increaseand following a better-than-expected 7.6 percent rise in March.
The central bank is widely expected to maintain itsaccommodative stance when it meets for the second of its semi-annual policyannouncements in October.
However, the economy faces uncertainties due to the globaland local COVID-19 outbreak situation./.
VNA