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
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