SINGAPORE, Feb 14 — Singapore’s fourth quarter economic growth was revised lower on a quarter-on-quarter basis this morning, due to a contraction in the manufacturing sector which has come under pressure recently.
The economy grew 2.1 per cent in the fourth quarter from the previous three months on an annualised and seasonally adjusted basis, revised final figures from the Ministry of Trade and Industry showed this morning.
The government's initial estimate, released on January 2, had showed the economy grew 2.8 per cent.
Gross domestic product grew 3.6 per cent in the fourth quarter from a year earlier, accelerating from the advance estimate of 3.1 per cent expansion.
The median forecast of 14 analysts in a Reuters poll predicted 2.0 per cent quarter-on-quarter growth and 2.9 per cent on-year expansion.
The economy grew 3.6 per cent in 2017, the ministry said, up from the advance estimate of 3.5 per cent. — Reuters