Singapore's economy grew at a slower-than-expected pace in the fourth quarter, as the manufacturing sector weighed on the overall output.Gross domestic product for the three months to Dec. 31 grew 1.6% on a seasonally adjusted and annualized basis compared with a revised 3.1% increase in the third quarter, according to advance estimates on Friday by the Ministry of Trade and Industry.
Four economists in a Dow Jones Newswires poll had tipped fourth-quarter GDP to expand 3.3% on quarter. The government statement said the economy is estimated to have expanded 1.5% on year compared with a median 2.0% increase tipped by five economists. GDP rose a revised 2.8% on year in the third quarter.
Manufacturing output fell 2.0% on year in the fourth quarter compared with a 1.7% expansion the previous quarter. Services output grew 2.6% on year while the construction sector expanded 0.8%, the data showed.
GDP grew 2.8% in 2014, in line with the government estimate of around 3.0%.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
0 comments:
Post a Comment