14 Oct '11, 1am

Singapore economy expands by 5.9% in Q3

The Singapore economy grew by 5.9 per cent on a year-on-year basis in the third quarter of 2011, an improvement from the 1.0 per cent growth in the second quarter. -- THE BUSINESS TIMES PHOTO: ARTHUR LEE CH By Aaron Low Singapore's economy grew by 5.9 per cent in the third quarter this year, and is on course to achieve 5 per cent growth for the whole year, said the Ministry of Trade and Industry on Friday. According to its advance GDP estimates, the MTI said that the stronger performance in the economy was mainly due to the pick up of growth in the biomedical sector. This helped to lift manufacturing to 13.2 per cent. But the rest of the sectors performed weakly, with construction growing by just 0.4 per cent while services expanded just 3.6 per cent. The MTI warned that growth for the rest of the year is likely to be hampered by softening global economic conditions with e...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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