Singapore GDP Revised Higher to 15.5 Percent

Singapore’s gross domestic product (GDP) for the second quarter of the year was revised higher on Monday, leading some analysts to suggest the economy’s gloomy times could soon be over.

On an annualized basis, GDP rose 15.5 percent on the previous quarter, faster than an advanced estimate made a month ago of 15.2 percent, and above analyst expectations of 14 percent. The positive data comes after the Singaporean government hiked its growth outlook for 2013 to between 2.5 percent and 3.5 percent last week, from between 1 and 3 percent.

Now a number of analysts are turning more bullish on the economy and forecasting that the worst could be over.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza