April 12, 2019 / 12:04 AM / 6 months ago

Singapore quarter one GDP rises 2.0 percent quarter-on-quarter

FILE PHOTO: Tourists stand at a promenade across the water from the Marina Bay Sands integrated resort in Singapore, in this file picture taken June 22, 2010. REUTERS/Vivek Prakash/File Photo

SINGAPORE (Reuters) - Singapore’s economy grew more than expected in the first quarter from the quarter before on an annualized basis, preliminary data showed on Friday.

Gross domestic product (GDP) grew 2.0 percent in the January-March period from the previous three months on an annualized and seasonally adjusted basis, the Ministry of Trade and Industry said in a statement.

It was forecast to have expanded 1.2 percent on a quarter-on-quarter, seasonally adjusted and annualized basis, a Reuters poll showed.

From the year ago, GDP grew 1.3 percent in the first quarter, below the 1.5 percent expansion forecast in the poll.

Reporting by Fathin Ungku; Editing by Sam Holmes

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