Singapore GDP expands more than economists estimated, avoids recession

Singapore GDP Topped Survey Last Quarter, Avert Recession

bloomberg.com 02 Jan '13, 12am

Singapore GDP expands more than economists estimated, avoids recession

You need to enable Javascript to play media on Bloomberg.com Play Singapore Grows and Averts Recession Singapore ’s economy expanded more than economists estimated last quarter, averting a recession even after the central bank refrained from monetary stimulus as it sought to contain elevated inflation. Gross domestic product rose an annualized 1.8 percent in the three months to Dec. 31 from the previous period, when it contracted a revised 6.3 percent, the Trade Ministry said in a statement today. The median of 11 estimates in a Bloomberg News survey was for a 1.6 percent expansion. The economy grew 1.2 percent last year, less than a quarter of 2011’s pace. The World Bank last month raised its outlook for emerging nations in East Asia , citing a recovery in China . The export- dependent region still faces risks from Europe ’s protracted sovereign debt crisis and a U.S. bud...

Full article: http://www.bloomberg.com/news/2013-01-02/singapore-growth...

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