PERFORMANCE OF THE SINGAPORE ECONOMY IN 2005 AND OUTLOOK FOR 2006

Economic activity in Singapore continued to pick up pace in 4Q05. Compared to the same quarter a year earlier, real GDP rose by 8.7%, up from 7.6% in 3Q05. The economy also showed strong momentum with 4Q05 annualised quarter-on-quarter growth reaching 13%. This brought full-year real GDP growth in 2005 to 6.4%1. The improvement over the advance estimate of 6.0% is mainly due to the better-than-expected growth in manufacturing activity.

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