Economics
Singapore's GDP Growth Disappoints as Construction Slumps
- Growth is lower than government’s previous projection of 1%
- Trade tensions, rising U.S. rates are external growth risks
This article is for subscribers only.
Singapore’s economy grew at a slower pace in the second quarter than initially projected as construction plunged.
The export-reliant city state was already facing a high bar for growth this year following a boom in electronics demand in 2017 that fueled global trade. After last year’s expansion of 3.6 percent, growth is set to moderate to a range of 2.5 percent to 3.5 percent in 2018, a forecast that the government retained on Monday.