Gross domestic product grew 4.4% in the first quarter from a year earlier, higher than the advance estimate of 4.3% growth. The median forecast of 11 analysts in a Reuters poll predicted 1.4% quarter-on-quarter growth and a 4.3% annual expansion. The expansion has been supported largely by the city-state's manufacturing sector, especially electronics, although the upward revision was mainly due to an improvement in the services sector numbers. But as growth in Singapore's factory output starts to moderate and exports of electronics decline, analysts have started to question the outlook for output in the city-state. Despite the risks, analysts say the resilience seen in economic growth keeps alive the prospect of another central bank tightening this year.

Source: Bangkok Post May 24, 2018 20:26 UTC