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Singapore’s Q4 and 2015 economic growths revised downward

by ChemOrbis Editorial Team - content@chemorbis.com
  • 24/02/2016 (17:12)
According to data released by Singapore’s Ministry of Trade and Industry (MTI), Singapore’s gross domestic product (GDP) growth for the full year of 2015 was revised downward to 2% from the previously announced rate of 2.1%, pointing to the slowest annual growth since 2009.

The country’s economy also posted a growth rate of 1.8% in the fourth quarter, falling below the government’s initial estimates of 2% growth. The downwardly revised growth rate was attributed to the country’s lower December industrial production, which posted the largest yearly drop in eight months.

Meanwhile, the Singaporean government’s economic growth expectations for 2016 remained unchanged at between 1 and 3%.
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