Economic growth likely slowed further to 6.2 percent in the second quarter from 6.4 percent in the first quarter due mainly to high base effects, DBS Bank of Singapore said Monday. “Expect 2Q17 GDP growth to come in at 6.2 percent year-on-year, a further moderation from the 6.4 percent seen in the previous quarter. The normalization in numbers is just as expected, given the high base from an election year in 2016,” it said. But DBS said going by the government’s monthly budget expenditure, it was clear spending had picked up pace in second quarter. At this juncture, unless we are to see a sharp slide in consumption growth in second half, full-year GDP growth is still likely to come in at circa 6.4 percent,” the bank said.

Source: The Standard August 14, 2017 11:48 UTC