SINGAPORE (Aug 11): Singapore cut the top end of its 2016 growth forecast after the economy expanded less than previously estimated in the second quarter, underscoring a weakening global environment. The benchmark stock index fell.
Gross domestic product expanded an annualised 0.3% from the first quarter, the Ministry of Trade and Industry said Thursday. That compares with last month's advance estimate of 0.8%, which was also the median forecast in a Bloomberg survey of nine economists. The economy grew a revised 0.1% in the first quarter.
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