Updated: 07/13/2013 01:28

S'pore economy picked up pace on Q2



S'pore economy picked up pace on Q2

Singapore's economic growth picked up pace in the second quarter. 

Flash estimates from the Trade and Industry Ministry showed that the economy grew by 3.7 per cent in the April to June period. 

This compared to 0.2 per cent growth in the firsr three months of the year. 

The manufacturing sector expanded by 1.1 per cent in the second quarter, a reversal from the 6.9 per cent contraction in quarter one. 

The sharp rebound largely reflected the strong growth in the output of the biomedical manufacturing and electronics clusters. 

The construction sector grew by a slower 5.6 per cent. 

The services producing industries grew by five per cent. 

Growth was mainly supported by a robust recovery in the wholesale & retail trade sector and the transportation and storage sector.

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