{"id":11281,"date":"2023-08-12T11:29:48","date_gmt":"2023-08-12T11:29:48","guid":{"rendered":"https:\/\/isafespend.com\/investing\/singapores-economy-grew-at-quicker-pace-in-second-quarter\/"},"modified":"2023-08-12T11:29:49","modified_gmt":"2023-08-12T11:29:49","slug":"singapores-economy-grew-at-quicker-pace-in-second-quarter","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=11281","title":{"rendered":"Singapore’s Economy Grew at Quicker Pace in Second Quarter"},"content":{"rendered":"
\n

By Ronnie Harui<\/p>\n\n

SINGAPORE–Singapore’s economy grew at a quicker pace in the second quarter, as expansion in construction and services-producing industries outweighed a contraction in manufacturing.<\/p>\n

Gross domestic product expanded 0.5% in the April-to-June period from a year earlier, according to revised data released by the Ministry of Trade and Industry on Friday. That compared with the advance estimate of 0.7% growth and with the 0.4% growth in the first quarter of 2023.<\/p>\n

\n

Services-producing industries grew 2.6% on year in the second quarter, faster than the 1.9% expansion recorded in the previous quarter, and construction grew 6.8% in the second quarter following the 6.9% expansion posted in the prior quarter.<\/p>\n

Manufacturing shrank 7.3% on year in the second quarter, accelerating from the 5.4% contraction in the first quarter.<\/p>\n

Singapore’s GDP grew 0.1% on a quarter-over-quarter seasonally adjusted basis in the second quarter, the revised data showed. That compared with the advance estimate of 0.3% growth and with the 0.4% contraction in the first quarter.<\/p>\n

The ministry also said that Singapore’s 2023 GDP growth forecast has been narrowed to 0.5%-1.5% from 0.5%-2.5% previously.<\/p>\n\n

Write to Ronnie Harui at ronnie.harui@wsj.com<\/p>\n<\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By Ronnie Harui SINGAPORE–Singapore’s economy grew at a quicker pace in the second quarter, as expansion in construction and services-producing industries outweighed a contraction in manufacturing. Gross domestic product expanded 0.5% in the April-to-June period from a year earlier, according to revised data released by the Ministry of Trade and Industry on Friday. That compared<\/p>\n","protected":false},"author":1,"featured_media":9638,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-11281","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"\nSingapore's Economy Grew at Quicker Pace in Second Quarter | iSafeSpend<\/title>\n<meta name=\"description\" content=\"By Ronnie Harui SINGAPORE--Singapore's economy grew at a quicker pace in the second quarter, as expansion in construction and services-producing\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/isafespend.com\/?p=11281\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Singapore's Economy Grew at Quicker Pace in Second Quarter | iSafeSpend\" \/>\n<meta property=\"og:description\" content=\"By Ronnie Harui SINGAPORE--Singapore's economy grew at a quicker pace in the second quarter, as expansion in construction and services-producing\" \/>\n<meta property=\"og:url\" content=\"https:\/\/isafespend.com\/?p=11281\" \/>\n<meta property=\"og:site_name\" content=\"iSafeSpend\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-12T11:29:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-12T11:29:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/mw_logo_social.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/isafespend.com\/?p=11281#article\",\"isPartOf\":{\"@id\":\"https:\/\/isafespend.com\/?p=11281\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf\"},\"headline\":\"Singapore’s Economy Grew at Quicker Pace in Second Quarter\",\"datePublished\":\"2023-08-12T11:29:48+00:00\",\"dateModified\":\"2023-08-12T11:29:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/isafespend.com\/?p=11281\"},\"wordCount\":195,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/isafespend.com\/#organization\"},\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/isafespend.com\/?p=11281#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/isafespend.com\/?p=11281\",\"url\":\"https:\/\/isafespend.com\/?p=11281\",\"name\":\"Singapore's Economy Grew at Quicker Pace in Second Quarter | iSafeSpend\",\"isPartOf\":{\"@id\":\"https:\/\/isafespend.com\/#website\"},\"datePublished\":\"2023-08-12T11:29:48+00:00\",\"dateModified\":\"2023-08-12T11:29:49+00:00\",\"description\":\"By Ronnie Harui SINGAPORE--Singapore's economy grew at a quicker pace in the second quarter, as expansion in construction and services-producing\",\"breadcrumb\":{\"@id\":\"https:\/\/isafespend.com\/?p=11281#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/isafespend.com\/?p=11281\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/isafespend.com\/?p=11281#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/isafespend.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Singapore’s Economy Grew at Quicker Pace in Second Quarter\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/isafespend.com\/#website\",\"url\":\"https:\/\/isafespend.com\/\",\"name\":\"Solutions For Real\",\"description\":\"Latest Finance News and Updates\",\"publisher\":{\"@id\":\"https:\/\/isafespend.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/isafespend.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/isafespend.com\/#organization\",\"name\":\"Solutions For Real\",\"url\":\"https:\/\/isafespend.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"contentUrl\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"width\":690,\"height\":64,\"caption\":\"Solutions For Real\"},\"image\":{\"@id\":\"https:\/\/isafespend.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"contentUrl\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/isafespend.com\"],\"url\":\"https:\/\/isafespend.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Singapore's Economy Grew at Quicker Pace in Second Quarter | iSafeSpend","description":"By Ronnie Harui SINGAPORE--Singapore's economy grew at a quicker pace in the second quarter, as expansion in construction and services-producing","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/isafespend.com\/?p=11281","og_locale":"en_US","og_type":"article","og_title":"Singapore's Economy Grew at Quicker Pace in Second Quarter | iSafeSpend","og_description":"By Ronnie Harui SINGAPORE--Singapore's economy grew at a quicker pace in the second quarter, as expansion in construction and services-producing","og_url":"https:\/\/isafespend.com\/?p=11281","og_site_name":"iSafeSpend","article_published_time":"2023-08-12T11:29:48+00:00","article_modified_time":"2023-08-12T11:29:49+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/mw_logo_social.png","type":"image\/png"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/isafespend.com\/?p=11281#article","isPartOf":{"@id":"https:\/\/isafespend.com\/?p=11281"},"author":{"name":"News Room","@id":"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf"},"headline":"Singapore’s Economy Grew at Quicker Pace in Second Quarter","datePublished":"2023-08-12T11:29:48+00:00","dateModified":"2023-08-12T11:29:49+00:00","mainEntityOfPage":{"@id":"https:\/\/isafespend.com\/?p=11281"},"wordCount":195,"commentCount":0,"publisher":{"@id":"https:\/\/isafespend.com\/#organization"},"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/isafespend.com\/?p=11281#respond"]}]},{"@type":"WebPage","@id":"https:\/\/isafespend.com\/?p=11281","url":"https:\/\/isafespend.com\/?p=11281","name":"Singapore's Economy Grew at Quicker Pace in Second Quarter | iSafeSpend","isPartOf":{"@id":"https:\/\/isafespend.com\/#website"},"datePublished":"2023-08-12T11:29:48+00:00","dateModified":"2023-08-12T11:29:49+00:00","description":"By Ronnie Harui SINGAPORE--Singapore's economy grew at a quicker pace in the second quarter, as expansion in construction and services-producing","breadcrumb":{"@id":"https:\/\/isafespend.com\/?p=11281#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/isafespend.com\/?p=11281"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/isafespend.com\/?p=11281#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/isafespend.com\/"},{"@type":"ListItem","position":2,"name":"Singapore’s Economy Grew at Quicker Pace in Second Quarter"}]},{"@type":"WebSite","@id":"https:\/\/isafespend.com\/#website","url":"https:\/\/isafespend.com\/","name":"Solutions For Real","description":"Latest Finance News and Updates","publisher":{"@id":"https:\/\/isafespend.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/isafespend.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/isafespend.com\/#organization","name":"Solutions For Real","url":"https:\/\/isafespend.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/isafespend.com\/#\/schema\/logo\/image\/","url":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","contentUrl":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","width":690,"height":64,"caption":"Solutions For Real"},"image":{"@id":"https:\/\/isafespend.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/isafespend.com\/#\/schema\/person\/image\/","url":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","contentUrl":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","caption":"News Room"},"sameAs":["https:\/\/isafespend.com"],"url":"https:\/\/isafespend.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts\/11281","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11281"}],"version-history":[{"count":1,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts\/11281\/revisions"}],"predecessor-version":[{"id":11282,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts\/11281\/revisions\/11282"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/media\/9638"}],"wp:attachment":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11281"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11281"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11281"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}