SINGAPORE: Singapore's economy grew more than expected in the first quarter from the previous quarter on an annualised basis, on the back of continued growth in the manufacturing sector, preliminary data showed on Friday.
The economy expanded 1.4 percent in the January-March period on an annualised and seasonally adjusted basis, the Ministry of Trade and Industry said on Friday in a statement.
Gross domestic product was expected to have grown 1.0 percent in annualised terms in January-March from the previous three months, according to the median forecast of a Reuters poll of economists.
In the fourth quarter, GDP grew 2.1 on an annualised basis from the previous quarter. Growth for the 2017 full year was 3.6 percent, the largest increase since 2014.
GDP in the first quarter grew 4.3 percent from a year earlier, matching forecasts in the Reuters poll. In the fourth quarter, Singapore's economy grew 3.6 percent from the year earlier. - Reuters
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