Singapore – 1Q 2019 GDP (Advance)
12/04/2019 10:19 am MYT
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Based on advanced estimates, the Singapore economy grew by 1.3%, year-on-year, in 1Q 2019 – see figure 1.

In 1Q 2019, the manufacturing sector contracted 1.9%, a reversal from the 5.1% growth in the previous quarter. The sector was weighed down by output declines in the precision engineering and electronics clusters, which more than offset output expansions in the biomedical manufacturing and transport engineering clusters. Meanwhile, the construction sector expanded by 1.4% from a year ago, which is the first quarter of positive growth following ten consecutive quarters of decline. The expansion was driven by immprovements in private sector construction activities.

The services-providing industries expanded by 2.1% (see table 1), supported by the information & communications and business services sector.

On a quarter-on-quarter seasonally adjusted annualised basis, real GDP increased by 2.0% in 1Q 2019. The manufacturing sector contracted by 12%, a sharper decline than in the previous quarter – see table 2.

 

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Note from Publisher
More than 1,000 people attended the 2018/2019 Global Investor Week last weekend. For those who participated in the entire programme, it was not only a fruitful and enjoyable weekend, but a memorable one too. For the past one week, we have been receiving thank you messages from participants. Some thanked us for organising such a wonderful event as they have gained tremendous insights and benefited immensely from the talks given by the various experts. Some expressed appreciation for the hard work we put in over the weekend. Others conveyed their gratitude for the wonderful time they had during the Appreciation Concert. We are greatly encouraged and touched by the gracious messages from the participants of the 2018/2019 Global Investor Week. They provided us with greater motivation to organize an even more productive Global Investor Week next year. We thank everyone for their continued support as we continue our Antarctica journey.

Meanwhile, the Chinese economy appears to have bottomed out, removing a major worry of the global economy. Given that China contributed to about 30% of the global economic growth, a strong Chinese economy is extremely important to global stability as it will pull up many economies, including Malaysia.
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