Steady growth ahead with GDP up 4.3% in Q1

Singapore

SINGAPORE'S first-quarter gross domestic product (GDP) growth came in at 4.3 per cent, right in line with economists' expectations, according to Ministry of Trade and Industry (MTI) advance estimates on Friday.

This year-on-year rise was higher than the 3.6 per cent expansion in the final quarter of last year. But on a quarter-on-quarter seasonally adjusted, annualised basis, GDP rose by 1.4 per cent in the first quarter, slower than the previous quarter's 2.1 per cent rise.

With manufacturing growth expected to moderate from its heady pace, economists are sticking to full-year growth forecasts of about 3 per cent, down from last year's 3.6 per cent.

OCBC economist Selena Ling said: "Looking ahead, the Singapore economy's growth momentum should continue to sustain at a broadly steady pace ahead, le…