MTI REVISES 2011 GROWTH FORECAST TO 5.0 TO 6.0 PER CENT

The Ministry of Trade and Industry (MTI) announced today that the Singapore economy is expected to grow by 5.0 to 6.0 per cent in 2011.

The Singapore economy grew by 0.9 per cent on a year-on-year basis in the second quarter of 2011, compared to the growth of 9.3 per cent in the preceding quarter. On a seasonally-adjusted quarter-on-quarter annualised basis, the economy contracted by 6.5 per cent following the 27.2 per cent expansion in the preceding quarter.

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Economic Survey of Singapore Second Quarter 2011.

MINISTRY OF TRADE AND INDUSTRY
10 August 2011