• About Us
    • Fact Checking Policy
    • Ownership & funding information
    • Volunteer
  • Subscribe
  • Letter submission
    • Submissions Policy
  • Contact Us
The Online Citizen Asia
  • Opinion
    • Editorial
    • Commentaries
    • Letters
    • Comments
  • Current Affairs
    • Singapore
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Arts & Culture
    • Consumer Watch
    • NGO
    • Lifestyle
    • Travel
  • Politics
    • Civil Society
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
No Result
View All Result
  • Opinion
    • Editorial
    • Commentaries
    • Letters
    • Comments
  • Current Affairs
    • Singapore
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Arts & Culture
    • Consumer Watch
    • NGO
    • Lifestyle
    • Travel
  • Politics
    • Civil Society
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
No Result
View All Result
The Online Citizen Asia
No Result
View All Result

Singapore’s GDP grew by 3.8 percent in second quarter of 2018

by Neyla Zannia
13/07/2018
in Economics
Reading Time: 2 mins read
0

Aerial view of Singapore business district and city at twilight in Singapore, Asia (Prasit Rodphan/Shutterstock.com)

Singapore economy grew by 3.8 percent on a year-on-year basis in the second quarter of 2018, moderating from the 4.3 percent growth in the previous quarter based on advance estimates.

In a press release on Friday (13 July), Ministry of Trade and Industry (MTI) stated that on a quarter-on-quarter seasonally-adjusted annualised basis, the economy expanded at a slower pace of 1.0 percent compared to the 1.5 percent growth in the preceding quarter.

According to the report, the manufacturing sector grew by 8.6 per cent on a year-on-year basis in the second quarter, slower than the 9.7 per cent growth in the previous quarter. All clusters within the sector expanded during the quarter, with the electronics and biomedical manufacturing clusters contributing the most to the sector’s growth. On a quarter-on-quarter seasonally-adjusted annualised basis, the sector shrank marginally by 0.1 per cent, a reversal from the 21.3 percent growth in the preceding quarter.

The ministry then stated that the construction sector contracted by 4.4 per cent on a year-on-year basis in the second quarter, extending the 5.2 per cent decline in the previous quarter. The sector was weighed down primarily by the continued weakness in private sector construction activities. On a quarter-on-quarter seasonally-adjusted annualised basis, the sector shrank by 14.6 per cent, reversing the 0.9 per cent growth in the preceding quarter.

It also noted that the services producing industries expanded by 3.4 per cent on a year-on-year basis in the second quarter, easing from the 4.0 per cent growth in the previous quarter.

MTI stated that growth was supported primarily by the finance & insurance and wholesale & retail trade sectors. On a quarter-on-quarter seasonally-adjusted annualised basis, the services producing industries grew by 2.5 per cent, a turnaround from the contraction of 1.4 per cent in the preceding quarter.

The report stated that the ministry will release the preliminary GDP estimates for the second quarter, including performance by sectors, sources of growth, inflation, employment and productivity, in its Economic Survey of Singapore in August 2018.

 

For just US$7.50 a month, sign up as a subscriber on The Online Citizen Asia (and enjoy ads-free experience on our site) to support our mission to transform TOC into an alternative mainstream press.

Related Posts

Singapore

Keppel condones and retains senior executives involved in bribery to get contracts

06/02/2023
7.8-magnitude quake hits southern Turkey: USGS
AFP

7.8-magnitude quake hits southern Turkey: USGS

06/02/2023
Hong Kong’s largest national security trial opens
AFP

Hong Kong’s largest national security trial opens

06/02/2023
Venerable Master Hsing Yun passed away at age 97
Arts & Culture

Venerable Master Hsing Yun passed away at age 97

06/02/2023
No response from Josephine Teo on whether Mediacorp has been instructed to stop coverage of SMT circulation scandal
Singapore

No response from Josephine Teo over alleged blackout of coverage by Mediacorp over SMT circulation scandal

06/02/2023
Earthquake victims stage demonstration after Cianjur Regency Govt cancels temporary housing assistance of US$68 per family
Indonesia

Earthquake victims stage demonstration after Cianjur Regency Govt cancels temporary housing assistance of US$68 per family

06/02/2023
Subscribe
Connect withD
Login
I allow to create an account
When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
DisagreeAgree
Notify of
Connect withD
I allow to create an account
When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
DisagreeAgree
0 Comments
Inline Feedbacks
View all comments

Latest posts

Keppel condones and retains senior executives involved in bribery to get contracts

06/02/2023
7.8-magnitude quake hits southern Turkey: USGS

7.8-magnitude quake hits southern Turkey: USGS

06/02/2023
Hong Kong’s largest national security trial opens

Hong Kong’s largest national security trial opens

06/02/2023
Venerable Master Hsing Yun passed away at age 97

Venerable Master Hsing Yun passed away at age 97

06/02/2023
No response from Josephine Teo on whether Mediacorp has been instructed to stop coverage of SMT circulation scandal

No response from Josephine Teo over alleged blackout of coverage by Mediacorp over SMT circulation scandal

06/02/2023
Earthquake victims stage demonstration after Cianjur Regency Govt cancels temporary housing assistance of US$68 per family

Earthquake victims stage demonstration after Cianjur Regency Govt cancels temporary housing assistance of US$68 per family

06/02/2023
The uncomfortable past appointments by PAP members for CPIB in Keppel’s corruption scandal

The uncomfortable past appointments by PAP members for CPIB in Keppel’s corruption scandal

06/02/2023
Not the first time, Tong Chong Heong, former KOM senior executive, was involved in corruption at Keppel

Not the first time, Tong Chong Heong, former KOM senior executive, was involved in corruption at Keppel

06/02/2023

Trending posts

Former Singaporean shares change of life in Australia with annual pay of S$80,000 as a plumber

Former Singaporean shares change of life in Australia with annual pay of S$80,000 as a plumber

by Yee Loon
30/01/2023
25

...

Cognizant India transfers staff to work in Singapore as recently as this year

Local IT grads can’t find jobs while engineers constantly transferred from India to work in SG under CECA

by Correspondent
05/02/2023
52

...

They have done a fine job of confusing us about the jobs situation

They have done a fine job of confusing us about the jobs situation

by Augustine Low
01/02/2023
47

...

Adani’s brother runs SG company and registers as director with local ID

Adani’s brother runs SG company and registers as director with local ID

by Correspondent
03/02/2023
26

...

Excessively charging for an essential need, and calling it affordable because people still can pay for it?

by Terry Xu
31/01/2023
40

...

Singapore Law Watch removes commentary on CPIB’s decision to not prosecute former Keppel executives

Singapore Law Watch removes commentary on CPIB’s decision to not prosecute former Keppel executives

by The Online Citizen
02/02/2023
19

...

July 2018
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031  
« Jun   Aug »

The Online Citizen is a regional online publication based in Taiwan and formerly Singapore’s longest-running independent online media platform.

Navigation

  • Editorial
  • Commentaries
  • Opinion
  • Politics
  • Community

Support

  • Contact Us
  • Letter submission
  • Membership subscription

Follow Us

  • Facebook
  • Twitter
  • YouTube
  • Instagram
  • Fact Checking Policy
  • Privacy Policy

© 2022 - 2023 The Online Citizen Asia

No Result
View All Result
  • Opinion
    • Editorial
    • Commentaries
    • Comments
  • Current Affairs
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Civil Society
    • Arts & Culture
    • Consumer Watch
    • NGO
  • Politics
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
  • Lifestyle
    • Travel
  • Subscribers login

© 2022 - 2023 The Online Citizen Asia

wpDiscuz