Gross domestic product for the second quarter

Singapore's economy fell in the second quarter from the previous three months on an annualized basis, largely missing forecasts by economists, preliminary data revealed on Friday.

Gross domestic product (GDP) fell 3.4% between April and June compared with the previous quarter, on an annualized and seasonally adjusted basis, the Ministry of Commerce and Industry announced in a statement.

A Reuters survey forecast 0.1% growth over the quarter, seasonally adjusted and annualized. In the first quarter of 2019, GDP grew by 3.8% compared to October-December.

Compared with the previous year, GDP grew 0.1% in the second quarter, which is lower than the 1.1% growth forecast in a Reuters survey.

In the first quarter, GDP grew by 1.1% revised compared with the previous year.