Singapore’s economy grew 6.0 per cent in the first quarter compared to the same period last year, coming in at the top end of forecasts, official figures showed on April 10. Preliminary estimates showed gross domestic product expanded 7.2 per cent on a quarter-on-quarter, seasonally adjusted annualised basis, compared with a 7.9 per cent gain in the three months to December.

The construction industry is currently enjoying a boom after years in the doldrums, boosted by government plans to build two multibillion dollar casinos and a rebound in property prices. Elsewhere, the manufacturing sector grew 6.1 per cent in the first quarter, lifted by a pickup in the electronics and chemicals industries as well as continued strong growth in transport engineering.