Loading
17-Feb-2011 1:34 PM

Singapore GDP expands 14.5% in 2010; growth of 4-6% anticipated for 2011

Singapore's Ministry of Trade and Industry (MTI) stated (17-Feb-2011) the Singapore economy grew by 14.5% in 2010, revising the decline of 0.8% in 2009 and driven largely by the manufacturing sector. Real GDP expanded by 12.0% in 4Q2010, following growth of 10.5% in 3Q2010. MTI’s growth forecast for 2011 remains at 4.0-6.0%. The inflation forecast for 2011 has been revised from 2.0-3.0% to 3.0-4.0%.  In particular, inflation is expected to rise further to 5.0-6.0% in the first few months of this year. The Monetary Authority of Singapore's core inflation forecast, which excludes the cost of accommodation and private road transport, remains unchanged at 2.0-3.0%.

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More