SINGAPORE GDP JUMPS 14.7% ON YEAR IN Q2

Singapore's gross domestic product climbed 14.7 percent on year in the second quarter of 2021, the Ministry of Trade and Industry said in Wednesday's final report,

That exceeded expectations for an increase of 14.2 percent following the 1.3 percent gain in the previous three months.

On a seasonally adjusted quarterly basis, gross domestic product contracted 1.8 percent after rising 3.1 percent in the three months prior.

Upon the release of the data, the MTI upgraded its GDP forecast for 2021 to 6 to 7 percent - up from 4 to 6 percent previously.

News are provided by InstaForex