Singapore’s gross domestic product gained 1.3 percent on year in the first three months of 2021, the Ministry of Trade and Industry said on Tuesday.
That beat expectations for an increase of 0.9 percent following the 2.4 percent contraction in the fourth quarter of 2020.
On a seasonally adjusted quarterly basis, GDP rose 3.1 percent after climbing 3.8 percent in the three months prior.
Upon the release of the data, the MTI maintained its GDP growth forecast for 2021 at 4.0 to 6.0 percent.
The material has been provided by InstaForex Company – www.instaforex.com