24 Nov '17, 9am

#Singapore #economy to grow up to 3.5% in 2017

Singapore’s gross domestic product (GDP) is forecasted to rise between three percent and 3.5 percent for the whole of 2017, while next year could see a growth of 1.5 percent to 3.5 percent, said the Ministry of Trade and Industry (MTI) on Thursday, 23 November 2017. For the first three quarters of the year, the economy expanded by 3.5 percent on an annual basis. That for Q3 2017 increased by 5.2 percent, surpassing the 2.9 percent gain in the prior quarter. On a seasonally-adjusted basis, the city-state’s GDP increased by 8.8 percent during the quarter, exceeding the 2.2 percent uptick in Q2 2017. “The Singapore economy performed better than expected in the third quarter. Growth was primarily supported by externally-oriented sectors such as manufacturing, finance & insurance, wholesale trade and transportation & storage sectors,” it said. However, the construction industry...

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