Singapore to release detailed Q1 GDP data on May 25

An office worker at Raffles Place.
An office worker at Raffles Place.ST PHOTO: LIM YAOHUI

SINGAPORE - The Ministry of Trade and Industry (MTI) will release detailed data on gross domestic product (GDP) for the first quarter at 8am on May 25, it said on Wednesday (May 18).

The latest Economic Survey of Singapore will include information and data on the overall GDP performance of the economy, sectoral performance, sources of growth, inflation, employment and productivity in the Jan-March quarter.

The Singapore economy grew 1.8 per cent year-on-year in the first quarter, according to flash estimates out last month.

While this beat market forecasts, growth was flat on a quarter-on-quarter seasonally adjusted annualised basis, a contrast to the 6.2 per cent expansion in the fourth quarter of 2015.

The Monetary Authority of Singapore (MAS) unexpectedly eased its exchange-rate based monetary policy on April 14 after the flash GDP numbers.

In its own latest twice-yearly review, MAS said prospects for the global economy have dimmed but the Singapore economy should see modest gains in the quarters ahead. It left unchanged its forecast of the economy growing between one and 3 per cent this year. Most private economists are predicting sub-2 per cent growth.