MTI Narrows 2016 GDP Growth Forecast to 1.0 to 2.0 Per Cent

11 August 2016. The Ministry of Trade and Industry (MTI) announced today that it has narrowed the GDP growth forecast for 2016 to 1.0 to 2.0 per cent, from 1.0 to 3.0 per cent.

Performance in Second Quarter 2016

The Singapore economy grew by 2.1 per cent on a year-on-year basis in the second quarter, unchanged from the first quarter. On a quarter-on-quarter seasonally-adjusted annualised basis, the economy expanded by 0.3 per cent, slightly faster than the 0.1 per cent growth in the preceding quarter.