Singapore's GDP shrank 1% in Q3

Here's the top performing sector.

According to OCBC Treasury Research, the Singapore economy saw Q3 growth of 5.1% yoy in 3Q13 but shrank by 1.0% qoq saar (in its first qoq contraction since Q3 2012), according to advance estimates, led by growth in manufacturing (+4.5% yoy) and services (+5.7% yoy), while construction growth moderated to 3.6% yoy.

Here's more:

The manufacturing sector was primarily supported by the transport engineering and electronics clusters, while services growth was led by the finance & insurance, and wholesale & retail trade sectors, and the construction slowdown was contributed by weaker public sector construction activities.

Generally, the sectoral breakdown revealed more balanced growth drivers in Q3 compared to the first half of this year, as both the manufacturing and services engines are gradually warming up.

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