Economics
Singapore’s Economic Growth Misses Estimates
- Manufacturing, construction contracted, while services grew
- GDP to expand above middle of 1.5-3.5% forecast range in 2018
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Singapore’s economy lost some of its momentum in the fourth quarter and the government sees growth moderating slightly this year as an export boom in 2017 eases.
While manufacturing in the trade-reliant economy was boosted last year by a surge in electronics exports, output has weakened recently as demand moderated. Even with that easing, the economy posted full-year growth of 3.6 percent in 2017, and is set to expand slightly above the middle of the 1.5-3.5 percent forecast range this year, the trade ministry said.