Singapore Q4 GDP hugely beats estimates, beats government forecasts also

Q4 GDP from Singapore has jumped solidly

+9.1% q/q (annualised & s.a.)
  • expected +3.7%
+1.8% y/y
  • Reuters expected was +0.6%
  • Government’s previous forecast was 1.0-1.5%
  • A solid result, but note …. the lowest growth since 2009
More:
  • Manufacturing +6.5% in Q4 (Ministry of Trade and Industry says driven mainly by electronics & biomedical manufacturing clusters. Transport engineering & general manufacturing clusters continued to contract)
  • Construction down 2.8%
  • Services sector +0.6%