Singapore's 1Q21 GDP 'pleasant surprise'; economists mostly keep 2021 GDP growth forecast between 5.5% to 8%

As Singapore’s GDP outperformed expectations with a 1.3% y-o-y expansion in the 1Q2021, outperforming the Ministry of Trade and Industry’s (MTI) initial flash estimates of a 0.2% growth y-o-y, economists have mostly kept their GDP growth forecast estimates for the full-year in 2021 unchanged.