Singapore’s economic growth moderated in the three months ended March, after accelerating in the previous quarter, the advance estimate from the Ministry of Trade and Industry showed Friday.
Gross domestic product advanced 3.8 percent year-over-year in the second quarter, slower than the 4.3 percent rise seen in the first quarter.
The manufacturing sector expanded 8.6 percent annually in the March quarter, while the construction sector contracted by 4.4 percent. The services producing industries registered a growth of 3.4 percent.
On a quarter-on-quarter seasonally-adjusted annualized basis, the economy expanded at a slower pace of 1.0 percent compared to the 1.5 percent growth in the preceding quarter.