Singapore Rebounds Strongly in Q2

Singapore’s trade-reliant economy grew much faster than initially estimated in the second quarter and more than analysts had expected, with a rebound in services suggesting a broader and more balanced recovery after a stumble early in the year.The city-state’s economy grew 2.2 percent in April-June on an annualised and seasonally adjusted basis, rebounding from a revised 2.1 percent contraction in the preceding quarter, data showed on Friday.The reading was far stronger than the government’s advance estimate last month of 0.4 percent growth and well above the highest estimate in a Reuters economist poll. Analysts had expected the final reading to pick up only slightly to 0.5 percent.

Source: Singapore’s economy healthier than expected in Q2, recovery broadens – Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.