13 Oct '17, 1am

Singapore Growth Accelerates in Third Quarter on Export Bounce

Singapore’s economy gained traction in the third quarter as a pickup in exports helped to drive up manufacturing. Highlights of GDP Report Gross domestic product rose at a seasonally adjusted and annualized rate of 6.3 percent in the third quarter from the previous three months, according to preliminary figures from the trade ministry on Friday. Median estimate of 12 economists in a Bloomberg survey was for 3.7 percent gain GDP climbed 4.6 percent from a year earlier, versus median estimate of 3.8 percent Big Picture Singapore has enjoyed a more solid growth patch this year as global trade continues to rebound and the electronics sector shows a particularly impressive upswing. Prime Minister Lee Hsien Loong said in August that the economy will probably grow 2.5 percent this year, which would be the fastest since 2014. At the same time, a weak labor market is weighing on co...

Full article: https://www.bloomberg.com/news/articles/2017-10-13/singap...

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