The Singapore economy grew at a better-than-expected 2% y-o-y in 4Q2015, advanced estimates released by the Ministry of Trade and Industry show. The republic is expected to register growth of 2.1 % for the whole of 2015.
The growth was a clip faster than the 1.8% in 3Q. On a q-o-q, seasonally adjusted annualised basis, the economy expanded at a faster pace of 5.7% per cent compared with the 1.7% growth in the previous quarter.
MTI's earlier announced GDP growth forecast was "close to 2.0%". A previous poll of 11 economists by Reuters showed that the median forecast came in at 1.3 % in 4Q.
The construction and services sectors both registered growth, while manufacturing continued to contract. The construction sector recorded 2.2% growth for 4Q2015, quickening its pace from the previous quarter's 1.1% Services grew 3.2%, slightly slower than last quarter's 3.4%. The manufacturing sector contracted by 6% in 4Q, extending a 5.9% decline in the previous quarter.
MTI will release the preliminary GDP estimates for 4Q and the whole of 2015in February 2016.
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
The growth was a clip faster than the 1.8% in 3Q. On a q-o-q, seasonally adjusted annualised basis, the economy expanded at a faster pace of 5.7% per cent compared with the 1.7% growth in the previous quarter.
MTI's earlier announced GDP growth forecast was "close to 2.0%". A previous poll of 11 economists by Reuters showed that the median forecast came in at 1.3 % in 4Q.
The construction and services sectors both registered growth, while manufacturing continued to contract. The construction sector recorded 2.2% growth for 4Q2015, quickening its pace from the previous quarter's 1.1% Services grew 3.2%, slightly slower than last quarter's 3.4%. The manufacturing sector contracted by 6% in 4Q, extending a 5.9% decline in the previous quarter.
MTI will release the preliminary GDP estimates for 4Q and the whole of 2015in February 2016.
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