Singapore’s Q4 GDP grew 4.4%


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14/01/2014

Singapore’s economy grew by 4.4 percent on a year-on-year basis in Q4 2013 compared to 5.9 percent in the previous quarter, revealed advance estimates from the Ministry of Trade and Industry (MTI).

On a quarter-on-quarter seasonally-adjusted basis, the economy contracted by 2.7 percent, a reversal from the 2.2 percent expansion in the previous quarter.

For the whole year, the economy is estimated to have grown by 3.7 percent.

This is in line with MTI’s growth forecast of 3.5 to 4.0 percent for 2013.

 

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