Despite mega construction projects and massive influx of foreigners, Singapore GDP contracts in Q4 as manufacturing weakened considerably

Free Malaysia Today, 2 Jan 2013
Singapore’s economy contracted more than expected in the fourth quarter as manufacturing activity weakened, data showed today, casting some doubt on market expectations for a slight pick-up in growth over 2014.
According to advance estimates from Singapore’s Ministry of Trade and Industry, GDP contracted an annualised and seasonally adjusted 2.7% in the final quarter of 2013 from the July-September period.
That reversed a 2.2% expansion in the third quarter and was weaker than the median 1.6% contraction forecast in a Reuters survey. Full story

Related:
  1. Singapore GDP contracts in Q4, hurt by sluggish manufacturing - Reuters India
  2. Singapore GDP Contracted Last Quarter as Output Eased - Bloomberg
  3. Singapore 4Q GDP -2.7% on Quarter, Adjusted, Annualized - Nasdaq
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