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 Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam