Overall, a net weighted 2 per cent of manufacturers said they expect business conditions to improve, the Economic Development Board said in a statement on Thursday, weaker from a year ago when 7 per cent expected improving business outlook.

Singapore's export-driven economy unexpectedly shrank for the first time since 2003 in the fourth quarter as manufacturing weakened on slowing economic growth in the United States, its top export market by country, preliminary estimates from the government showed. -- REUTERS