25 May 2017. The Ministry of Trade and Industry (MTI) announced today that it has maintained the GDP growth forecast for 2017 at "1.0 to 3.0 per cent", with growth likely to come in higher than 2.0 per cent barring the materialisation of downside risks.

Economic Performance in First Quarter 2017

The Singapore economy grew by 2.7 per cent on a year-on-year basis in the first quarter, easing from the 2.9 per cent growth in the previous quarter. On a quarter-on-quarter seasonally-adjusted annualised basis, the economy contracted by 1.3 per cent, after posting a strong rebound of 12.3 per cent in the preceding quarter.

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