Research and analysis

Economic update for Q2 2014 – August 2014

Singapore’s economic growth slows to 2.4% in the second quarter.

From:
Foreign & Commonwealth Office
Published
26 August 2014

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This article is no longer current. Please refer to Overseas Business Risk – Singapore

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Economic update for Q2 2014 – August 2014

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Singapore’s economic growth rate slowed in the second quarter to 2.4% (on a year earlier) – better than expected although a shrinking manufacturing sector continues to affect growth. Growth in the second half of the year looks likely to be tepid as the restructuring of Singapore’s economy limits its ability to benefit from an improving global outlook. Consequently, non-oil domestic exports are expected to fall by 1-2% this year, while the official GDP growth forecast range for 2014 has been narrowed to 2.5-3.5%.

Published 26 August 2014