SINGAPORE: Singapore's economy grew 5.1 per cent on-year in the third quarter of 2013, said the Ministry of Trade and Industry (MTI) in advance estimates released on Monday, faster than the second quarter's revised 4.2% growth.
Singapore's economy grew more vigorously than foreseen in the last three months of 2012, avoiding an expected recession, as gross domestic product (GDP) data for previous quarters was revised downwards.
Singapore's GDP expanded by an annualized 1.8 percent in the fourth quarter from the third quarter after seasonal adjustments, advanced estimates from the Ministry of Trade and Industry showed on Wednesday, reversing a larger than earlier reported 6.3 percent contraction in the July-September period.