Singapore’s GDP Grew by 0.1 Per Cent in the Second Quarter of 2019

12 July 2019. Based on advance estimates, the Singapore economy grew by 0.1 per cent on a year-on-year basis in the second quarter of 2019, slower than the 1.1 per cent growth in the previous quarter. On a quarter-on-quarter seasonally-adjusted annualised basis, the economy shrank by 3.4 per cent, after posting growth of 3.8 per cent in the preceding quarter.

The manufacturing sector contracted by 3.8 per cent on a year-on-year basis in the second quarter, extending the 0.4 per cent decline in the previous quarter. The contraction was due to output declines in the electronics and precision engineering clusters, which more than offset output expansions in the rest of the manufacturing clusters. On a quarter-on-quarter seasonally-adjusted annualised basis, the sector shrank by 6.0 per cent, moderating from the 6.4 per cent contraction in the preceding quarter.

The construction sector grew by 2.2 per cent on a year-on-year basis in the second quarter, extending the 2.7 per cent expansion in the previous quarter. Growth of the sector was supported by an increase in public sector construction activities. On a quarter-on-quarter seasonally-adjusted annualised basis, the sector contracted by 7.6 per cent, reversing the 13.3 per cent growth in the preceding quarter.

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MINISTRY OF TRADE AND INDUSTRY
12 July 2019