SINGAPORE - Singapore’s Ministry of Trade and Industry announced on Thursday that based on advance estimates, the country’s gross domestic product (GDP) grew by 4.8 percent year on year in the second quarter of 2022, extending the four percent growth in the previous quarter.

On a quarter-on-quarter seasonally-adjusted basis, the economy remained unchanged in the second quarter, after posting an expansion of 0.9 percent in the first quarter.

In a breakdown, Singapore’s manufacturing sector expanded by eight percent year on year in the second quarter, the construction sector grew by 3.8 percent year on year, and the services producing industries expanded by 4.7 percent year on year.

The advanced GDP estimates released on Thursday were computed largely from data in the first two months of the quarter, according to the ministry. These figures are intended as an early indication of the GDP growth in the quarter, and are subject to revision when more comprehensive data become available.

The ministry said it will release the preliminary GDP estimates for the second quarter this August.