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Singapore Q4 GDP expands 5.9% y/y, beating forecasts -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Storm clouds over Singapore’s central business district, April 5, 2021. Picture taken April 5, 2021. REUTERS/Edgar Su

SINGAPORE (Reuters – Singapore’s economy grew slightly faster than predicted in the fourth quarter compared with a year prior, preliminary data revealed on Monday.

According to a Ministry of Trade and Industry statement, gross domestic product (GDP), grew 5.9% between October and December on a year over year basis. According to Reuters, economists expected growth of 5.4%.

In October and December, GDP increased 2.6% quarter-on-quarter on a seasonally adjusted basis.

The GDP grew 7.2% for the whole year.

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