SINGAPURA (sebesar BATAM) OPTIMIS, INDONESIA HARUSNYA LEBIH

SINGAPORE--Singapore's economy grew faster than previously estimated in the second quarter due to increased manufacturing output ...



SINGAPORE--Singapore's economy grew faster than previously estimated in the second quarter due to increased manufacturing output which was supported by the biomedical and electronics sectors, the government said Monday.
Gross domestic product rose 15.5% in April-June on a seasonally adjusted and annualized basis, compared 15.2% estimated by the government last month. In the first quarter, the economy grew only 0.2% rather than the initially estimated 1.8%.
Compared with the same quarter a year earlier, the economy grew 3.8% versus the advance estimate of 3.7%, the Ministry of Trade and Industry said in a statement.
Output in the manufacturing sector rose 0.2% on year in the second quarter compared with a 6.9% contraction reported earlier. Services sector output grew 5.5% while the construction sector expanded 5.1%, the data showed.
The government revised upward its full-year growth forecast range to 2.5% to 3.5% as against the earlier estimate of 1.0% to 3.0%.
"While economic growth in the advanced economies came in slightly weaker than expected in the first half of the year, global macroeconomic conditions are expected to pick up gradually in the second half," the MTI said in its statement.
However, it warned of risk in the global growth outlook given the euro zone is likely to remain in recession and that the China growth outlook looks fragile, as recent policies by that country to rein in credit expansion could weigh on investment growth.
 
Write to Gaurav Raghuvanshi at gaurav.raghuvanshi@dowjones.com
 
(END) Dow Jones Newswires
August 11, 2013 20:14 ET (00:14 GMT)




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