Singapore’s GDP data

SINGAPORE: Singapore’s economy grew faster than initially estimated in the fourth quarter, but a deeper contraction in the key manufacturing sector and a downgrade to trade growth for this year will keep pressure on policy makers to step up stimulus. Solid growth in the services industry helped lift gross domestic product (GDP) to an annualised 6.2 per cent in October to December period from the previous three months on a seasonally adjusted basis, the Ministry of Trade and Industry said on Wednesday. That was stronger than the government’s advance estimate of 5.7 per cent growth issued in January and topped the median forecast of a four per cent rise in a Reuters survey. In the third quarter, the economy grew 2.3 per cent.