SINGAPORE, Feb 24 — Singapore economy grew faster than initially estimated in the fourth quarter, government data showed today, as the service sector performed stronger though the key manufacturing industry suffered a deeper contraction.
The trade-dependent economy expanded an annualised 6.2 per cent in the fourth quarter from the previous three months, beating a forecast of a 4.0 per cent growth in a Reuters poll, and higher than the initial estimate of 5.7 per cent.
While the final number shows an economy in better shape at the start of the year than initially thought, weakness in more recent data have some analysts predicting more monetary stimulus at the central bank’s policy review in April. — Reuters
