Singapore GDP Unexpectedly Expands as Outlook Improves: Economy

Singapore’s economy unexpectedly expanded last quarter as manufacturing declined less than initially estimated amid recoveries in advanced countries.

Gross domestic product rose an annualized 0.1 percent in the three months through June from the previous quarter, when it climbed a revised 1.8 percent, the trade ministry said in a statement today. That compares with a July estimate of a 0.8 percent contraction and the median forecast in a Bloomberg News survey of 14 economists for a 0.3 percent drop.