Reuters logo
Singapore GDP grew more than expected in Q4
February 22, 2013 / 12:16 AM / 5 years ago

Singapore GDP grew more than expected in Q4

* Q4 GDP +3.3 pct q/q vs median forecast of +2.1 pct
    * Q4 GDP +1.5 pct y/y vs median forecast of +1.2 pct
    * Full-year 2012 GDP +1.3 percent
    * Singapore reiterates 2013 growth forecast of 1-3 pct

    SINGAPORE, Feb 22 (Reuters) - Singapore's Ministry of Trade
and Industry released economic estimates for the fourth quarter
of 2012 on Friday:
    
 ACTUAL GDP (PCT CHANGE)     
 Period      Q4/2012  Q3/2012  Q2/2012   Q1/2012   Q4/2011
 Q/Q          +3.3      -4.6*     0.1*      7.8*     -2.3*
 Y/Y          +1.5       0.0      2.3       1.5       3.6
  * denotes revisions
    Notes:  
    - Q/Q SAAR is quarter-on-quarter, seasonally adjusted 
annualized rate.
    - Y/Y is year-on-year.
           
    CONTEXT
    - Singapore's Q4 GDP growth was revised upward from the
advanced estimate of 1.1 percent year-on-year.
    - Singapore's economy grew 1.3 percent in 2012, slightly
higher than the advance estimate of 1.2 percent. In 2011, the
economy grew 5.2 percent.
    - Economists polled by Reuters had forecast Q4 GDP growth of
1.2 percent year-on-year and 2.1 percent on an annualised and
seasonally adjusted quarter-on-quarter basis.
    - Manufacturing fell 1.1 percent in Q4 from a year earlier
after a 1.4 percent drop in Q3.
    - Services rose 1.7 percent from a year earlier. 
    - Singapore maintains its 2013 growth forecast of 1-3
percent, the ministry said.
    - "The global macroeconomic conditions have stabilised in
recent months against the backdrop of improved financial market
conditions. Nevertheless, global economic growth is likely to
remain subdued," it said. 
    "Against this macroeconomic backdrop, the outlook for the
Singapore economy remains cautiously positive." 
    
 - For news on the Singapore economy, see  
 - To track Singapore economic data, click 

 (Reporting by Kevin Lim)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below