Singapore's gross domestic product was down a seasonally adjusted 0.7 percent in the second quarter of 2012 compared to the previous three months, the Ministry of Trade and Industry said on Friday.
That's an improvement from last month's advance reading that called for a 1.1 percent contraction. GDP was up 9.4 percent in the first quarter.
On a yearly basis, GDP was up 2.0 percent, up from the 1.9 percent advance reading and also up from the 1.4 percent increase in the previous three months.
Upon the release of the data, the Ministry of Trade and Industry narrowed its GDP growth forecast for 2012 to 1.5 to 2.5 percent; originally, it was 1.0 to 3.0 percent.
Saudi banks deposits grow to SR 1.1 trillion
A study conducted by the economic unit at the newspaper on the volume of call deposits and saving in Saudi banks listed in stock markets found out that the first category, call deposits form the high
Dubai rallies to 4-year high
Dubai’s benchmark stock index rose to its highest close since October 2009, propelled by property and banking sectors to underscore the resounding resurgence in investor optimism.
The DFM
Saudi oil exports fall in March
Saudi crude exports fell to 7.42 million barrels per day (bpd) in March, 34,000 bpd less than in February, as Saudi power sector oil use rose and output edged lower, official figures released via the