SINGAPORE, July 14 (Xinhua) -- Singapore's economy grew 5.7 percent year-on-year in the second quarter, advance estimates released on Tuesday showed, easing from the 6.3 percent growth recorded in the previous quarter.
On a seasonally adjusted quarter-on-quarter basis, gross domestic product (GDP) expanded 1.1 percent, following 1.3 percent growth in the first quarter, the Ministry of Trade and Industry said.
The manufacturing sector grew 12.2 percent from a year earlier, accelerating from 8.0 percent growth in the first quarter.
The ministry said the expansion was driven largely by stronger output in the electronics and precision engineering clusters, supported by robust artificial intelligence-related demand for semiconductors and semiconductor manufacturing equipment.
The chemicals and biomedical manufacturing clusters contracted during the quarter. The decline in the chemicals cluster was due to feedstock disruptions stemming from the conflict in the Middle East, the ministry said.
The advance estimates for the second quarter were compiled mainly from data for the first two months of the quarter. The ministry will release preliminary GDP estimates in August. ■