16 Feb '12, 12am

Singapore's economy grew 4.9% in 2011, growth in 2012 expected to be 1-3%

SINGAPORE - Singapore's economy shrank less than initially estimated last quarter as a surge in pharmaceutical production supported manufacturing at the year end. Gross domestic product fell an annualised 2.5 per cent in the fourth quarter of 2011 from the previous three months, less than an initial estimate of a 4.9 per cent decline, the Ministry of Trade and Industry said in a report this morning. Non-oil domestic exports will probably rise 3 to 5 per cent in 2012, the trade promotion agency said in a separate statement, reiterating an earlier forecast. For the whole of the year, the economy grew by 4.9 per cent, after a 14.8 per cent expansion in 2010. MTI also maintained the growth forecast for 2012 at 1 to 3 per cent. GDP increased 3.6 per cent from a year earlier last quarter, after rising a revised 6 per cent the previous three months. The expansion matched the Janu...

Full article: http://www.todayonline.com/Singapore/EDC120216-0000084/Ec...

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