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Singapore’s gross domestic product gained a seasonally adjusted 2.0 percent on quarter in the first three months of 2021, the Ministry of Trade and Industry said in Wednesday’s advance estimate.

That exceeded expectations for an increase of 1.5 percent following the 3.8 percent growth in the fourth quarter of 2020.

On a yearly basis, GDP rose 0.2 percent – again beating forecasts for a decline of 0.2 percent following the 2.4 percent contraction in the three months prior.

The yearly increase followed three straight quarters of contraction in 2020, which ended lower by 5.4 percent overall.


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