Macroeconomic indicators - Singapore sees its GDP soaring by 15pct in 2010
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Thursday, 15 Jul 2010
Singapore said that it expects its economy to soar 15% in 2010 after surging manufacturing fueled a record expansion in the second quarter.
The Trade & Industry Ministry said in a statement that gross domestic product grew by 19.3% in the second quarter from a year earlier and jumped an annualized seasonally adjusted 26%.
The ministry added that the economy will likely expand between 13% and 15% in 2010, more than the government's previous forecast of growth between 7% and 9%.
(Sourced from Associated Press)
