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Singapore’s Economy Hits Fastest Pace in More Than Three Years in Third Quarter

  • GDP grew at fastest pace in more than three years last quarter
  • Trade ministry says signs of recovery broadening out
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Bloomberg’s Haslinda Amin reports on Singapore’s third-quarter GDP figures and the revised 2017 GDP forecast. (Source: Bloomberg)
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Singapore raised its economic growth forecast for this year and sees global growth underpinning that momentum into 2018, with some moderation.

A healing in global trade this year has helped boost export-reliant economies like Singapore’s, with manufacturing buoyed by demand for electronics goods. Growth has started to broaden out to other industries, such as services, giving economists and the government reason to upgrade their full-year projections. Prime Minister Lee Hsien Loong said earlier this week that growth could exceed 3 percent in 2017.