17 Feb '11, 12am

Growth of 4-6% for 2011 with economic declines reversed

Singapore: The Singapore economy grew by 14.5 per cent in 2010, reversing the decline of 0.8 per cent seen the year before. Growth for 2011 says the Trade and Industry Ministry will remain at 4.0 to 6.0 per cent. Real gross domestic product (GDP) expanded by 12.0 per cent on a year-on-year basis in the fourth quarter of 2010, with a 10.5 per cent improvement in the previous quarter. On a seasonally-adjusted quarter-on-quarter annualised basis, the economy grew by 3.9 per cent, an upturn from the contraction of 16.7 per cent in the preceding quarter. A statement from MTI said the economy expanded by 14.5 per cent in 2010, driven largely by the manufacturing sector. Due to a surge in electronics and biomedical manufacturing output, the manufacturing sector rebounded by 29.7 per cent in 2010 following a 4.2 per cent contraction in 2009. Growth in the construction sector conti...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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