Singapore's gross domestic product added 2.1 percent on year in the second quarter of 2014, the Ministry of Trade and Industry said in Monday's advance estimate. That missed forecasts for an increase of 3.5 percent following the downwardly revised 4.7 percent gain the previous three months (originally 4.9 percent). Seasonally adjusted and on an annualized quarterly basis, GDP contracted 0.8 percent - well shy of expectations for an increase of 3.0 percent and down from the downwardly revised 1.6 percent gain in Q1 (originally 2.3 percent). The material has been provided by InstaForex Company - www.instaforex.com
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