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Press Release
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04 JAN 2010
Pace of Recovery Moderated in Fourth Quarter 2009
Pace of Recovery Moderated in Fourth Quarter 2009
PACE OF RECOVERY MODERATED IN FOURTH QUARTER 2009
4 January 2010. Economic activity in Singapore slowed down in the fourth quarter of 2009, according to advance estimates1. On a seasonally adjusted quarter-on-quarter annualised basis, Singapore’s GDP contracted by 6.8 per cent in the fourth quarter due to a pull-back in the manufacturing sector. Compared to the fourth quarter of 2008, the economy grew by 3.5 per cent.
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MINISTRY OF TRADE AND INDUSTRY
4 January 2010