26 Nov '13, 9am

Singapore raises growth forecast - Property Auctions News, Property Investment | PropertyGuru

The Singapore economy is expected to grow by 3.5 to 4.0 percent in 2013, an increase from the earlier forecast of 2.5 to 3.5 percent. In a statement, the Ministry of Trade and Industry (MTI) revealed that GDP rose 5.8 percent year-on-year in Q3 2013, up from the previous quarter’s 4.4 percent expansion. Specifically, the manufacturing sector expanded 5.5 percent year-on-year, due to a sharp rebound in the transport engineering cluster as well as robust growth in the electronics cluster. The construction sector grew 5.3 percent year-on-year while the wholesale and retail sector expanded 7.9 percent year-on-year. Finance and insurance moderated to 10.5 percent year-on-year, primarily due to slower growth in the sentiment-sensitive cluster while accommodation and food services eased slightly to 3.0 percent year-on-year. The economy is expected to maintain a similar pace of gr...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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