Singapore economy up in Q3 with expansion into 2014 expected

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Singapore's economy posted 5.1 per cent on-year growth for the third quarter, said the Ministry of Trade and Industry in advanced estimates, while the Monetary Authority of Singapore has forecast continued economic expansion into 2014.

File photo: Singapore's skyline.

SINGAPORE: Singapore's economy posted a 5.1 per cent on-year growth for the third quarter of 2013, said the Ministry of Trade and Industry in advanced estimates released on Monday. This is compared to the 4.2 per cent recorded in the preceding quarter. The market was expecting a 3.8-per cent growth. On a quarter-on-quarter seasonally-adjusted annualised basis, the economy contracted by 1.0 per cent, compared to the 16.9 per cent growth in the previous quarter. Economists on average were expecting a contraction of 4 per cent. Looking ahead, the Monetary Authority of Singapore said in a separate statement, that it expects the economy to continue to expand for the rest of 2013 and into 2014, although some volatility in growth rates is likely.

3-per cent expansion in the preceding quarter.5 per cent on-year. . and inflation could rise as firms pass on accumulated costs with the MAS Core Inflation (excluding private transport and accommodation costs) coming in at 1. compared to 1.It added that barring a significant deterioration in global demand conditions. On a quarter-on-quarter basis.9-per cent growth in the previous quarter. moderating from the 12. the labour market will remain tight.5-per cent expansion in the preceding quarter.6 per cent on-year. the manufacturing sector expanded 4. The services producing industries grew 5. In the breakdown given by MTI.8 per cent on year in August.8 per cent on-quarter. in contrast to the 33. stronger than the 1. similar to the 5. The construction sector grew 3.6 per cent in the first seven months of the year.9 per cent in the preceding quarter. The sector contracted 8.0 per cent on-quarter.7 per cent on-year. down from 6.CNA/fa/sf/xq .4 per cent. The sector grew 1. the sector declined 3. a sharp contrast from the 20.3-per cent growth in the previous quarter.6-per cent growth in the previous quarter.

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