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2009 GDP Growth Forecast Revised to -2.5 to -2.0 Per Cent

12 October 2009

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12 October 2009. The Ministry of Trade and Industry (MTI) announced today that the Singapore economy expanded by 0.8 per cent year-on-year in the third quarter of 2009. Growth was driven by the continued expansion of biomedical and electronics manufacturing output, and improvements in the trade-related and tourism sectors of the economy on the back of a gradual stabilisation in global economic conditions.

Taking these factors into account, MTI is upgrading the economic growth forecast for 2009 to-2.5 to -2.0 per cent.

Download the full press release [PDF, 42 KB].

MINISTRY OF TRADE AND INDUSTRY
12 October 2009

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