More complete survey returns show Q1 construction much weaker than estimated: MTI

Singapore

The overall GDP growth rate for Q1 was revised to 2.5 per cent from an earlier 2.7 per cent. A more significant revision was made to the construction sector growth rate, where it was revised down to -6.1 per cent from an earlier -1.4 per cent, a 4.7 percentage point difference.

This translates to about S$230 million in constant GDP terms, according to UOB economist Francis Tan's estimate.

He said the total value-add for the construction sector in Q1 …