SINGAPORE (Reuters) – Singapore’s economy grew more than expected in the first quarter from the quarter before on an annualized basis, preliminary data showed on Friday.

Gross domestic product (GDP) grew 2.0 percent in the January-March period from the previous three months on an annualized and seasonally adjusted basis, the Ministry of Trade and Industry said in a statement.

It was forecast to have expanded 1.2 percent on a quarter-on-quarter, seasonally adjusted and annualized basis, a Reuters poll showed.

From the year ago, GDP grew 1.3 percent in the first quarter, below the 1.5 percent expansion forecast in the poll.

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