(MENAFN) According to Singapore's Ministry of Trade and Industry (MTI), the country's economy expanded by 1.5 percent in the fourth quarter of the year, Xinhua reported.
The growth was slower than the 3.1 percent growth registered in the third-quarter period, declining by 1.6 percent, according to the figures released by the MTI.
Manufacturing shrank by 2 percent in the last quarter of 2014, a revise from the 1.6 percent growth in the third quarter, driven mainly by a decline in the output of the transport engineering.
Construction grew 0.8 percent, down from the 1.3 percent growth in the prior quarter, while the services producing industries grew 2.6 percent, easing from the 3.4 percent growth in the preceding quarter.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.