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Pace of Recovery Moderated in Fourth Quarter 2009

4 January 2010

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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.

For 2009, the Singapore economy is estimated to have contracted by 2.1 percent. This is in line with MTI’s forecast of a contraction of 2.0 to 2.5 per cent for the whole year.

Download the full press release [PDF, 37 KB]. 

MINISTRY OF TRADE AND INDUSTRY
4 January 2010

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