17 Feb '11, 10pm

Singapore's economic recovery robust, according to latest MTI figures: by May Wong SINGAPORE - Latest official f...

SINGAPORE - Latest official figures from the Ministry of Trade and Industry (MTI) yesterday confirmed the Republic's blistering economic recovery. According to MTI, the Republic's gross domestic product (GDP) grew 14.5 per cent last year, compared to recession-hit 2009 when the economy contracted by 0.8 per cent. The latest figure is largely in line with the Government's initial estimate of 14.7 per cent. The economic growth was driven largely by the manufacturing sector, which expanded by 29.7 per cent. Services grew 10.5 per cent, while growth in the construction sector slowed to 6.1 per cent - as compared to 17.1 per cent in 2009 - as more large projects are completed. The MTI reiterated its full-year economic growth forecast of 4 to 6 per cent this year. MTI Permanent Secretary Ravi Menon said at a press conference: "Growth will be healthy but will be nowhere near as s...

Full article: http://www.todayonline.com/Business/EDC110218-0000250/Sin...

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