Business

Singapore to provide GDP estimates on Jan 3

Singapore will provide advance estimates of gross domestic product (GDP) for the fourth quarter and for 2016 at 8am on Jan 3, the Ministry of Trade and Industry said yesterday.

In the third quarter, Singapore's economy contracted 2 per cent from the previous quarter on an annualised and seasonally adjusted basis.

Compared to a year earlier, GDP grew 1.1 per cent in the July-September quarter.

Data released last week showed that Singapore's industrial production in November rose at the fastest annual pace in more than 2½ years as electronics output jumped, an outcome that was seen by economists as reducing the risk of GDP contracting again on a quarter-on-quarter basis in the fourth quarter. - REUTERS

EconomySingaporeMINISTRY OF TRADE AND INDUSTRY (MTI)