Singapore Q4 GDP grows 9.1%, exceeds forecast

PHOTO: The Straits Times

Singapore's economy grew more than expected in the fourth quarter, lifted by a pick-up in manufacturing and the services sector, although the growth outlook is clouded by uncertainty over global trade under the incoming Trump Administration.

The economy expanded 9.1 per cent in the October-December period from the previous three months on an annualized and seasonally adjusted basis, the Ministry of Trade and Industry said on Tuesday.

The median forecast in a Reuters poll was growth of 3.7 per cent.

From a year earlier, gross domestic product grew 1.8 per cent in the fourth quarter. The median forecast in the Reuters survey was 0.6 per cent growth.

The economy grew 1.8 per cent for the full year, exceeding the government's previous forecast of 1.0-1.5 per cent growth, but still the lowest growth since 2009.