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2009 GDP Growth Forecast Maintained at -6.0 to -4.0 Per Cent

11 August 2009

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11 August 2009. The Ministry of Trade and Industry (MTI) announced today that the Singapore economy contracted by 6.5 per cent in the first half of 2009. MTI will maintain the GDP growth forecast for 2009 at -6.0 to -4.0 per cent.

Performance in the second quarter of 2009

In the second quarter of 2009, Singapore’s GDP expanded by a seasonally adjusted 20.7 per cent compared to the previous quarter. This performance represented a significant improvement from the 12.2 per cent contraction in the first quarter of the year. Strong gains in the manufacturing sector underpinned the improvement.

Download the full press release [PDF, 61 KB]

Economic Survey of Singapore Second Quarter 2009


MINISTRY OF TRADE AND INDUSTRY
11 August 2009

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