The Singapore economy expanded by 2.4 per cent on a year-on-year basis in the third quarter of 2014, said the Ministry of Trade and Industry (MTI) today based on advance estimates.
This is the same pace of growth as in the previous quarter.
On a quarter-on-quarter seasonally-adjusted annualised basis, the economy grew by 1.2 per cent, a reversal from the 0.1 per cent contraction in the previous quarter.
The construction sector grew by 1.4 per cent on a year-on-year basis, dropping from the 4.1 per cent growth in the previous quarter, mainly due to weaker private sector construction activities.
MTI will release the preliminary GDP estimates for Q3 in November 2014 in its Economic Survey of Singapore.
Muneerah Bee, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
