Singapore’s Economy Expands More Than Estimated

Singapore provided a report card on its economy that beat analyst forecasts in one of Asia’s earliest growth estimates, as improving services and construction countered faltering exports. It may be too early to celebrate.

Gross domestic product rose an annualized 5.7 percent in the three months to Dec. 31 from the previous quarter, when it expanded a revised 1.7 percent, the trade ministry said in an advance estimate on Monday. The median of nine estimates in a Bloomberg News survey was for a 1 percent expansion. The economy grew 2.1 percent last year, the slowest pace in six years.