Economists divided on prospects of full-quarter growth for manufacturing and services

Singapore

But this narrowing of a growth gap between the two sectors, indicated in the advance estimates of Q2 gross domestic product (GDP) growth released on Friday, did not give economists cause for cheer.

Their concern over the future trajectory of Singapore's economic growth is underpinned by their divided views on how healthy the economy is. Mizuho Bank economist Vishnu Varathan said: "For the record, Q2 GDP flash release was a mixed bag." Manufacturing, which has been leading economic growth in the recent quarters, continued to lead the pack. It reported an 8 per cent year-on-year growth in Q2, compared to Q1's 8.5 per cent, Friday's data released by the Ministry of Trade and Industry (MTI) showed.