, Singapore

Singapore economy blew the gates off with 12% growth in last quarter of 2010

But construction slowed dramatically, falling 2 % having grown 6.7 % in the previous quarter.

According to Singapore's Ministry of Trade in Industry, the expansion was an improvement from the growth of 10.5 per cent in the previous quarter. On a seasonally-adjusted quarter-onquarter annualised basis, the economy grew by 3.9 per cent, an upturn from the contraction of 16.7 per cent in the preceding quarter.

The manufacturing sector expanded by 25.5 per cent on a year-on-year basis in the fourth quarter, faster than the 13.7 per cent growth posted in the third quarter. On a sequential basis, the sector grew by an annualised rate of 0.7 per cent after a sharp contraction of 48.5 per cent in the previous quarter. Growth was led by the biomedical manufacturing cluster, which saw a strong recovery in pharmaceutical output.

In contrast, the construction sector contracted by 2.0 per cent on a year-on-year basis in the fourth quarter,compared to the 6.7 per cent growth recorded in the preceding quarter. On a sequential basis, the sector contracted by 10.2 per cent (annualised), mainly due to the rescheduling of some institutional and civil engineering projects to 2011.

The services producing industries expanded by 8.8 per cent in the fourth quarter, following the growth of 10.2 per cent in the previous quarter. On a sequential basis, the sector posted an annualised growth of 5.6 per cent, up from 0.5 per cent in the preceding quarter. Growth was bolstered by the financial services sector which saw increased activities for fund management, commercial bank lending and foreign exchange trading. Trade-related and tourism-related services sectors also contributed to the healthy growth in the fourth quarter. 

Join Singapore Business Review community
A NOTE FROM SINGAPORE BUSINESS REVIEW

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.


The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.


So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.