Singapore Economy Expanded 1.8% in 2016
Singapore's economy expanded 1.8% in the fourth quarter of 2016 from same quarter a year ago, led by manufacturing and service sectors, according to data released by its Trade and Industry Ministry. The data showed its construction sector continued to shrink.
Manufacturing sector expanded 6.5% in the Q4 from a year ago, up from 1.7% year on year growth in the third quarter. Service sector registered 0.6% yearly growth, up from 0.3% growth in the earlier quarter.
The data at the same time showed construction sector continued to shrink, which shrank 2.8% in the fourth quarter, more than the 0.2% year on year shrank registered in the third quarter of the year.
In the year of 2016, manufacturing sector registered 2.3% yearly growth, service sector grew 0.9% while construction sector expanded 1.3%, the trade and industry ministry said.
- APMR News