SINGAPORE, July 14 (AFP): Singapore averted a recession in the second quarter, official data showed Monday, but the government warned of "significant uncertainty" ahead owing to the effects of US President Donald Trump's tariffs.
Preliminary estimates from the trade ministry show that the economy grew 4.3 per cent year-on-year in the three months to June, extending the 4.1 per cent expansion in the first quarter.
It grew 1.4 per cent quarter-on-quarter, swinging back from after shrinking 0.5 per cent in the first three months of the year.
The reading means the city-state avoided a technical recession, defined as two successive quarters of contraction.
The key manufacturing sector expanded 5.5 per cent on-year during the quarter, picking up from 4.4 per cent in the previous three months as businesses rushed to beat the imposition of higher US tariffs. Manufacturing covers Singapore's key semiconductor exports.
Singapore averts recession in second quarter
FE Team | Published: July 14, 2025 23:47:58
Singapore averts recession in second quarter
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