Singapore fourth-quarter GDP grows 3.1 percent year-on-year; 2017 growth 3.5 percent

SINGAPORE (Reuters) – Singapore’s economy grew 3.1 percent in the fourth quarter compared with a year earlier, with growth moderating from the third quarter’s strong pace.

The median forecast in a Reuters poll was for growth of 2.7 percent year-on-year.

GDP grew 2.8 percent in the October-December quarter from the previous quarter, on an annualized and seasonally adjusted basis, according to the Ministry of Trade and Industry.

The median forecast in the Reuters survey was 2.9 percent growth.

The economy grew 3.5 percent for all of 2017, the fastest growth since GDP expanded nearly 3.6 percent in 2014, and accelerating from 2.0 percent growth in 2016.

The government’s forecast for 2017 growth had been 3.0 to 3.5 percent.

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