News Room - Business/Economics

Posted on 12 Oct 2009

Singapore third quarter GDP grows 15%

Singapore's economy surged for a second straight quarter in the July-to-September period as manufacturing led the city-state out of recession.

 

Gross domestic product grew an annualized, seasonally adjusted 14.9 percent in the third quarter, following a jump of 22 percent the previous quarter, the Trade and Industry Ministry said Monday.

 

The government boosted its 2009 GDP forecast to a contraction of between 2 percent and 2.5 percent from a previous expectation of a fall between 4 percent and 6 percent.