SINGAPORE's economy grew at a faster rate than market's expectations in the second quarter, prompting the government to narrow its growth forecast for this year and keep its monetary policy stance.
On Friday, the Ministry of Trade and Industry (MTI) unveiled that Singapore's gross domestic product (GDP) grew 2.9 per cent from a year ago in the second quarter. This was faster than the 2.5 per cent growth in the preceding quarter and also an upward revision from an earlier estimate of 2.5 per cent.