Singapore seen revising down Q2 growth on Aug 12

[Admin]

05-08-2013 11:45:27
Singapore seen revising down Q2 growth on Aug 12

SINGAPORE, Aug 5 (Reuters) - Economists expect Singapore to
revise downwards second quarter gross domestic product growth
from preliminary estimates when it releases a detailed report of
the data at 8 a.m. (0000 GMT) on Aug 12, the Ministry of Trade
and Industry said on Monday.
The advance estimates had put second quarter GDP growth at
3.7 percent year-on-year and 15.2 percent quarter-on-quarter on
an annualised, seasonally adjusted basis.
Economists expect a downward revision in the wake of
slightly weaker-than-expected June industrial production data.
There might be better news beforehand, however. Prime
Minister Lee Hsien Loong is expected to reveal an upward
adjustment in Singapore's full year growth forecast in his
National Day address on Thursday evening.
A slight recovery in the global chip sector and strength in
financial services, flagged by the central bank last month, has
raised expectations that the full year growth forecast could be
raised from 1-3 percent currently. [ID:nL4N0FT0YM]
Singapore's economy grew by just 0.2 percent year-on-year in
the first three months of 2013.

(Reporting by Kevin Lim; Editing by Simon Cameron-Moore)
(([e-mail])(65)(6403 5663)(Reuters
Messaging: [e-mail]))

Keywords: SINGAPORE ECONOMY/GDP