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Singapore economy grows 5.1% in Q1

Published on Apr 14, 2014 8:00 AM
 
The Singapore economy grew 5.1 per cent in the first quarter of 2014 from the same period last year, boosted by strong growth in manufacturing and construction. -- ST FILE PHOTO: DESMOND WEE

SINGAPORE - Boosted by strong growth in manufacturing and construction, the Singapore economy grew 5.1 per cent in the first quarter from the same period last year.

This was lower than the 5.5 per cent growth in the fourth quarter of last year over the year before, according to advance estimates released by the Ministry of Trade and Industry (MTI) said on Monday.

Compared with the fourth quarter last year, the economy grew just 0.1 per cent in the first quarter this year on a seasonally-adjusted annualised basis.

The manufacturing sector expanded a faster 8 per cent in the January to March quarter over a year ago, and 4.5 per cent over the preceding quarter, the MTI said.

 
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