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Singapore's Q2 GDP in slight miss as manufacturing slows

A container vessel docks at the Tanjong Pagar Terminal in Singapore.
Suhaimi Abdullah | Getty Images
A container vessel docks at the Tanjong Pagar Terminal in Singapore.

Singapore's trade-reliant economy grew slightly slower than expected in the second quarter on a softer manufacturing sector, keeping pressure on the central bank to further ease monetary policy in the face of sluggish global demand and concerns over Brexit.

The economy expanded 0.8 percent in the April-June period from the previous three months on an annualized and seasonally adjusted basis, the Ministry of Trade and Industry said on Thursday in a statement.

That compared with a 0.9 percent rise forecast in a Reuters poll.

Gross domestic product grew 2.2 percent in the second quarter from a year earlier, meeting the median forecast of a 2.2 percent expansion in the survey.

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