Singapore lifts growth expectations, India sees trade deficit narrow

SINGAPORE – The Ministry of Trade and Industry has revised its 2013 full-year GDP growth forecast to 2½%-3½% from 1%-3% previously on expectations of improving external demand, following a surprise lift in GDP of 3.8% y/y for the second quarter, up from a preliminary reading of 3.7%. The better-than-expected outturn was due to an upward revision in services output.