New data on Singapore's economic performance in the July to September quarter was released on Thursday morning by the Ministry of Trade and Industry. Here's a quick summary of the key points:
1. Stronger growth this year:
The Singapore economy's growth forecast for this year has been upgraded to between 3.5% and 4%, from a previous estimate of between 2.5% and 3.5%, on the back of stronger-than-expected growth in the third quarter. This year's growth will be three times as fast as last year's 1.3% expansion, and is due to a better global economy and continued strength in construction and services.