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Economics

Singapore GDP Growth Beats Initial Estimate as Asia Recovers

Singapore’s economy expanded more than initially estimated last quarter after a smaller contraction in manufacturing, adding to evidence of a recovery in Asia. The island’s currency rose.

Gross domestic product rose an annualized 3.3 percent in the three months through December from the previous quarter, when it shrank a revised 4.6 percent, the Trade Ministry said in a statement today. That compares with a January estimate of 1.8 percent and the median in a Bloomberg News survey for a 2 percent expansion.