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2009 GDP Growth Forecast Maintained at -9.0 to -6.0 Per Cent

21 May 2009

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21 May 2009. The Ministry of Trade and Industry (MTI) announced today that it will maintain the GDP growth forecast for 2009 at -9.0 to -6.0 per cent.

Performance in First Quarter 2009

The economy contracted by 14.6 per cent on a quarter-on-quarter, seasonally adjusted annualised basis in first quarter of 2009, compared to the decline of 16.4 per cent recorded in the last quarter of 2008. In year-on-year terms, real GDP contracted by 10.1 per cent in the first quarter of 2009.

Download the full press release [PDF, 63 KB]

Economic Survey of Singapore First Quarter 2009

MINISTRY OF TRADE AND INDUSTRY
21 May 2009

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