Developers sold 602 units last month versus 1,201 in November, the Urban Redevelopment Authority said in a statement yesterday.
SINGAPORE: Singapore’s economy grew at its slowest pace in more than two years in the fourth quarter, data showed on Friday, and the city-state’s trade ministry warned that manufacturing is likely to face significant moderation this year.
Weakening growth momentum for Singapore’s open economy - a high-tech manufacturing base and transportation hub - underscores the risks to Asia’s export economies from a slowdown in China and Beijing’s trade war with Washington.
Singapore’s growth pace is expected to slow in 2019 as manufacturing ”is likely to see a significant moderation,” trade ministry official Loh Khum Yean said, adding that the important electronics and semiconductor sector were particularly vulnerable.
Loh said services - which account for roughly 70 percent of the economy - are also likely to ease.
From a year earlier, gross domestic product grew 1.9 percent in the fourth quarter, less than the 2.2 percent advance estimate from the Ministry of Trade and Industry (MTI) and the 2.1 rise seen in the Reuters poll.
That was the slowest on-year pace since the third quarter of 2016, when it grew 1.2 percent.
In October-December, the economy grew 1.4 percent from the previous three months on an annualised and seasonally adjusted basis, lower than the ministry’s initial estimate, made on Jan. 2, of 1.6 percent. The Reuters poll expected no revision of the initial quarterly number.
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