Singapore GDP Grew More Than Earlier Estimated Last Quarter
- Services, construction gained while manufacturing fell
- Government reiterates 1% to 3% 2016 economic growth forecast
Gross domestic product rose an annualized 6.2 percent in the three months through December from the previous quarter, when it expanded a revised 2.3 percent.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
Singapore’s economy grew more than initially estimated last quarter as a gain in services outweighed weaker manufacturing and exports.
Gross domestic product rose an annualized 6.2 percent in the three months through December from the previous quarter, when it expanded a revised 2.3 percent, the trade ministry said in a statement Wednesday. That compares with a January estimate of a 5.7 percent gain and the median forecast of 4.5 percent in a Bloomberg News survey of 11 economists.