Singapore economy grows

Singapore economy grows

Boosted by strong growth in manufacturing and construction, the Singapore economy grew 5.1 per cent in the first quarter from the same period last year.

This was lower than the 5.5 per cent growth in the fourth quarter of last year over the year before, according to advance estimates released by the Ministry of Trade and Industry (MTI) on April 14.

Compared with the fourth quarter last year, the economy grew just 0.1 per cent in the first quarter this year on a seasonally-adjusted annualised basis.

The manufacturing sector expanded by a faster 8 per cent in the January to March quarter over a year ago, and 4.5 per cent over the preceding quarter, the MTI said.

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