| Singapore's economy unexpectedly contracted 1.1% in the second quarter from the preceding three months due to weakness in the manufacturing sector and as weak stock trading activity contributed to a loss of momentum for the services sector. The seasonally-adjusted, annualized growth followed a strong 9.4% expansion in the first quarter. Manufacturing output shrank 6%, after soaring 20.9% in the January-March period. On a year-on-year basis, the southeast Asian economy grew 1.9% during the second quarter, accelerating from the 1.4% expansion recorded the first quarter, Powered by Commodity Insights |