Singapore Q4 GDP quarter-on-quarter growth revised lower

By Kitco News / February 13, 2018 / www.kitco.com / Article Link

SINGAPORE, Feb 14 (Reuters) - Singapore's fourth quarter economic growth was revised lower on a quarter-on-quarter basis on Wednesday, due to a contraction in the manufacturing sector which has come under pressure recently.

The economy grew 2.1 percent in the fourth quarter from the previous three months on an annualised and seasonally adjusted basis, revised final figures from the Ministry of Trade and Industry showed on Wednesday.

The government's initial estimate, released on Jan. 2, had showed the economy grew 2.8 percent. Gross domestic product grew 3.6 percent in the fourth quarter from a year earlier, accelerating from the advance estimate of 3.1 percent expansion.

The median forecast of 14 analysts in a Reuters poll predicted 2.0 percent quarter-on-quarter growth and 2.9 percent on-year expansion. The economy grew 3.6 percent in 2017, the ministry said, upfrom the advance estimate of 3.5 percent.


(Reporting by Masayuki Kitano and Fathin Ungku Editing by Shri Navaratnam)

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