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Singapore’s Economy Beats Forecasts to Grow Most Since 2011

Singapore’s economy grew at the fastest pace in more than two years last quarter as services strengthened and manufacturing rebounded, reducing pressure on the central bank to ease monetary policy.

Gross domestic product rose an annualized 15.2 percent in the three months through June from the previous quarter, when it grew 1.8 percent, the Trade Ministry said in a statement today. That exceeded all 12 estimates in a Bloomberg News survey, where the median was for an 8.1 percent expansion.