Singapore revised Q2 GDP is out, along with Monetary Authority of Singapore comments

  • Q2 growth revised lower, GDP +0.6% from the government's initial estimate of + 1%
  • +3.9% y/y (above the advance estimate of 3.8%
  • Ministry of Trade and Industry maintained its growth forecast for this year at 2.5 to 3.5%

From the Monetary Authority of Singapore:

  • current monetary policy stance is appropriate
  • Step down in growth was expected