Singapore Growth Quickens, Fueled by Manufacturing Revival

Singapore’s economic growth accelerated in the second quarter, in signs the city-state’s recovery is gaining momentum as manufacturing rebounded.

Gross domestic product expanded 0.4% in the three months to June from the previous quarter, the Ministry of Trade and Industry said in its advance estimate Friday. That matches the median expectation in a Bloomberg News survey and is quicker than a revised 0.3% gain seen in the January-March period.

Compared with a year ago, the economy expanded 2.9%, beating the survey forecast for a 2.7% increase. The MTI figures were mostly computed from data in the first two months of the second quarter. Manufacturing halted two quarters of contraction, thanks to a global tech upcycle. Construction also swung into growth in the April-June period, supported by increased public sector projects.