(MENAFN) According to advance estimates released by the Ministry of Trade and Industry (MTI), the Singapore economy increased by 1.5 percent during the October-December period of this year compared to the same period last year, and compared to 2.8 percent in the previous quarter, Xinhua reported.
In comparison with the July-September period of this year, the economy grew by 1.6 percent, slower than the 3.1 percent expansion during the third quarter, while the manufacturing sector contracted at a rate of 5.8 percent, compared with 3 percent growth registered during the previous quarter.
Meanwhile, construction grew by 0.8 percent, down from the 1.3 percent growth in comparison with the third quarter of this year, while the services producing industries grew by 2.6 percent, declining from the 3.4 percent growth in the preceding quarter.
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