According to revised figures released by the Ministry of Trade and Industry (MTI) on 17 February, GDP expanded 12.0% in the fourth quarter over the same period the year before. The figure, which was below the 12.5% expansion first reported on 3 January, represents an acceleration over Q3's growth of 10.5%. The acceleration was led by manufacturing, which improved from year-on-year growth of 13.7% in Q3 to a 25.5% expansion in Q4 (previously reported: +28.2% yoy). The services sector decelerated slightly in the fourth quarter, rising 8.8% over the same period last year (Q3: +10.2% yoy). The construction industry was the only sector to contract, declining 2.0% over Q4 2009 (Q3: +6.7% yoy). In the full year 2010, growth was revised to 14.5% (previously reported: +14.7%), which is the highest growth rate in the region and represents the fastest pace in more than two decades. Despite the downward adjustment, the government maintained its official forecast for GDP to grow between 4.0% and 6.0% in 2011.
Singapore posts record growth in 2010
February 17, 2011
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Singapore Economic News
October 24, 2016
In September, consumer prices stayed flat compared to the previous month, following the 0.5% increase recorded in August.
October 17, 2016
In September, non-oil domestic exports (NODX) dropped 4.8% from the same month last year, deteriorating from August’s flat result.
October 14, 2016
According to advanced estimates released by the Ministry of Trade and Industry on 14 October, GDP declined a sharp 4.1% in Q3 from the previous quarter at a seasonally adjusted annualized rate (SAAR), down from Q2’s revised 0.2% rise (previously reported: +0.3% quarter-on-quarter).
October 14, 2016
At its second scheduled semi-annual meeting of 2016, which took place on 14 October, the Monetary Authority of Singapore (MAS) decided to leave the rate of appreciation of the Singapore dollar nominal effective exchange rate (S$NEER) policy band unchanged at zero percent.
October 3, 2016
The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) picked up from 49.8 in August to a 15-month high of 50.1 in September.