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Singapore's economy grows 4.9% in Q1

Published on May 20, 2014 8:00 AM
 
Singapore's economy grew 4.9 per cent in the first three months of the year over a year ago, lower than the 5.1 per cent previously estimated, the Ministry of Trade and Industry (MTI) said on Tuesday, May 20, 2014. -- ST FILE PHOTO: LIM YAOHUI  

Singapore's economy grew 4.9 per cent in the first three months of the year over a year ago, the Ministry of Trade and Industry (MTI) said on Tuesday.

It added that it will maintain its forecast that the economy will grow 2 to 4 per cent for the whole year.

Tuesday's numbers used 2010 prices as a base, instead of the 2005 prices used previously.

The manufacturing sector grew 9.8 per cent in the first quarter over a year ago, accelerating from the 7 per cent growth in the previous quarter, the MTI said in a statement on Tuesday.

 
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