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DBS cuts Singapore 2014 growth forecast to 3 pct from 4 pct
July 23, 2014 / 1:41 AM / in 3 years

DBS cuts Singapore 2014 growth forecast to 3 pct from 4 pct

SINGAPORE, July 23 (Reuters) - Singapore’s biggest lender DBS downgraded its 2014 growth forecast for Singapore on Wednesday, citing a disappointing performance in the manufacturing sector and continued weakness in the services sector.

DBS said in a research note that it had downgraded its full-year economic growth forecast for Singapore to 3 percent from its previous forecast of 4 percent.

Reporting by Masayuki Kitano and Rachel Armstrong; Editing by Jacqueline Wong

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