Singapore’s economy expanded 5.1 percent on year in the first quarter of 2014, in line with expectations, according to advanced estimates released on Monday.
The reading was slower than the 5.5 percent on-year expansion in the final quarter of 2013.
On a quarter-on-quarter, seasonally adjusted and annualized basis, the economy grew just 0.1 percent, slowing from 6.1 percent in the final quarter of 2013.
The city-state’s manufacturing sector was a bright spot, growing 8 percent on year following the previous quarter’s 7 percent expansion, helped by a sharp rebound in biomedical manufacturing output and stronger growth in chemicals output.
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Mingze Wu
centers on forex and macro-economic trends impacting the Asia Pacific region.
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