Singapore economy up almost 3% in 2014

Romesh Navaratnarajah • 18 Feb 2015

Singapore economy

Singapore’s economy grew 2.9 percent in 2014, a drop from 4.4 percent growth in the previous year, revealed the Ministry of Trade and Industry (MTI).

Growth slowed in the construction sector, moderating to 3.0 percent in the year from 6.3 percent in 2013, due to weaker private sector construction activities.

But the finance & insurance and business services sectors saw improvement, recording growth rates of 7.7 percent and 2.9 percent respectively.

MTI maintains its forecast for 2015 at 2.0 to 4.0 percent.

Read the full statement here.

 

Romesh Navaratnarajah, Singapore Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg

PropertyMarketOutlook2015-DailyNews

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