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Latest News

Singapore Growth Rebounds to Fastest in More Than a Decade

04 Jan 2022

Singapore Growth Rebounds to Fastest in More Than a Decade
 
Singapore’s recovery accelerated in the final three months of 2021, with easing virus restrictions and strong manufacturing helping push the economy to its fastest full-year growth in more than a decade.
 
Gross domestic product expanded 2.6% on a seasonally adjusted basis from the previous three months, according to advance estimates Monday from the Ministry of Trade and Industry, beating a median 2.1% forecast in a Bloomberg survey of economists.
 
That last quarter pick up helped propel growth for the full year to 7.2%, the fastest since 2010, after a 5.4% contraction in 2020. Economists had forecast an expansion of 7.1%, while the trade ministry in November said it expected about 7%.
 
(Source: Bloomberg)