Singapore's economy expands at fastest pace in more than 5 years

SINGAPORE (Feb 17): Singapore’s economy grew at its fastest pace in more than five years in the fourth quarter, driven by a surge in manufacturing as export demand recovered.

Key points
• Gross domestic product rose an annualized 12.3% in the three months to December from the previous quarter, rebounding from a contraction of 0.4%, the trade ministry said in a statement Friday
• That was higher than the government’s January estimate of a 9.1% gain and compares with a median forecast of 12.6% in a Bloomberg survey of eight economists
• GDP rose 2.9% in the fourth quarter from a year earlier
• The economy expanded 2% in 2016, higher than a previous estimate of 1.8%

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