Singapore’s surprising manufacturing rebound helps avoid recession

Strong growth: Office workers walk to the train station during evening rush hour in the financial district of Singapore. GDP expanded a seasonally adjusted and annualised 9.1 in the October-December period from the previous three months, its fastest pace in three years. — Reuters

SINGAPORE: Singapore’s economy posted surprisingly strong growth in the fourth quarter, although the outlook is clouded by China’s slowdown and risks of rising global trade protectionism under the incoming Trump Administration.

A rebound in manufacturing helped the city-state dodge a recession, a welcome lift for an economy that has seen lacklustre growth in the past two years as exports fell away amid sluggish global demand. The services sector also turned around after three quarters of contraction.