THE Singapore economy performed worse than the market had expected in Q2 - expanding 2.1 per cent compared to a year ago - according to advance estimates of gross domestic product (GDP) released by the Ministry of Trade and Industry (MTI) on Monday morning.
This was slower than the 4.7 per cent growth seen in Q1.
Private-sector economists polled by Bloomberg prior to the data release had a median growth forecast of 3.1 per cent year-on-year.
On a seasonally-adjusted quarter-on-quarter annualised basis, MTI said overall GDP contracted 0.8 per cent - a reversal from the annualised 1.6 per cent growth in the preceding quarter.
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