14 Apr '11, 10pm

[ST] Singapore economy up 8.5% in Q1

All sectors of the economy expanded, led by manufacturing, which grew 13.9 per cent. -- ST FILE PHOTO SINGAPORE'S economy grew by a robust 8.5 per cent in the first quarter of this year, the Trade and Industry Ministry said. The economy expanded by 23.5 per cent in the first quarter of 2011, on a quarter-on-quarter basis. The advance estimates takes data from the first two months of this year, and is an early indication of how the Singapore economy will perform in the first quarter. The surprisingly upbeat figures showed that all sectors of the economy expanded, led by manufacturing, which grew 13.9 per cent. On a quarter-on-quarter basis, manufacturing grew by almost 80 per cent. Services grew 7.2 per cent while construction edged up 2.6 per cent. Economists had previously expected a slowdown in the economy and had cut their growth estimates earlier.

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

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