Singapore Quarter-on-Quarter GDP Growth Rates – Second Quarter 2014

The Ministry of Trade and Industry (MTI) released its second quarter 2014 GDP based on advance estimates today.

Real Gross Domestic Product (GDP) contracted 0.8% on quarter-on-quarter basis (annualised growth rate, seasonally adjusted). On year-on-year basis, GDP grew 2.1%.

The Quarter-on-Quarter (Q-o-Q) GDP growth rates for ten quarters starting 2012 are tabulated below.

Quarter Q-o-Q GDP
2Q 2014* -0.8
1Q 2014 1.6
4Q 2013 6.9
3Q 2013 0.7
2Q 2013 10.2
1Q 2013 1.5
4Q 2012 3.3
3Q 2012 -4.6
2Q 2012 0.1
1Q 2012 7.8

* based on advance estimates

The economy contracted in second quarter (-0.8%) and it was only 1.6% growth rate in the first quarter of this year. The year started poorly for Singapore. “The deceleration in growth was largely due to a contraction in electronics output and slower growth in transport engineering output.” (Source: MTI)

Q-o-Q GDP Second Qtr 2014

 

 

 

 

With the exceptions of 4Q 2013, 2Q 2013 and 1Q 2012, Singapore economy performed poorly in seven quarters. Since 2012, Singapore had not been up to mark and struggled to show improvement in GDP on a consistent basis.

Copyright © 2014, limkimtong for Living Investment

The material presented is intended to be general and written in layman’s language as much as it is possible. The author shall not be liable for any direct or consequential loss arising from any use of material written. Please seek professional advice from your financial advisor or financial institutions on material written covering financial matters.

Advertisements
This entry was posted in Economics and tagged . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s