Despite advanced Singapore 2Q2021 GDP estimates coming in below consensus figures, economists remain mostly upbeat and anticipate a stronger performance in the coming months.

According to data released by the Ministry of Trade and Industry (MTI) on July 14, Singapore’s GDP grew 14.3% y-o-y in the 2Q2021, compared to consensus estimates of 14.8%.

The strong growth was largely due to the low base in the 2Q2020 when GDP fell by 13.3% due to the Circuit Breaker (CB) measures implemented from April 7 to June 1, 2020.


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