Singapore's GDP up 7.5 percent in 2nd quarter

Singapore's gross domestic product (GDP) is estimated to have grown by 7.5 percent in the second quarter of 2006 as compared with the same period of the previous year.

According to the advance estimates released by the Ministry of Trade and Industry (MTI) on Monday, the growth rate for the manufacturing sector in the second quarter is estimated at 10.2 percent.

The construction sector continued to contract by 0.3 percent in the second quarter, while the services producing industries are estimated to have expanded by 6.8 percent during the same period.

Singapore's GDP grew by 10.7 percent year-on-year in the first quarter of 2006 and the MTI forecast the country's economic growth rate for the whole year to be between 5 percent and 7 percent.

Source: Xinhua