Powered by the manufacturing sector riding on a global demand recovery, Singapore’s economy unexpectedly grew in the first quarter of this year, reversing three previous quarters of contraction caused by the pandemic (see chart).

According to advance estimates released by the Ministry of Trade and Industry on April 14, Singapore’s economy eked out a 0.2% y-o-y expansion in the first quarter of this year, versus a y-o-y growth of 0% for the first quarter of last year.

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