Thursday, October 23, 2014   

Singapore economy grows slower in second quarter
(08-12 10:58)

The Singapore economy grew by 2. 4 percent on a year-on-year basis in the second quarter, moderating from the 4.8 percent growth in the previous quarter, the Ministry of Trade and Industry said Tuesday.
On a quarter-on-quarter seasonally-adjusted annualized basis, the economy expanded by 0.1 percent, slower than the 1.8 percent growth in the preceding quarter.
The manufacturing sector grew by 1.5 percent year-on-year in the second quarter, a sharp slowdown from the 9.9 percent expansion in the preceding quarter. The deceleration in growth was largely due to a contraction in electronics output and slower growth in transport engineering output.
The construction sector grew 4.4 percent compared to the 6.4 percent growth in the preceding quarter. The slowdown was driven mainly by a fall in private construction output, reflecting weaker private residential building works and a decline in private commercial and industrial building works.
The wholesale & retail trade sector grew by 1.7 percent while transportation & storage sector slowed to 2.0 percent on a year-on- year basis. Finance and insurance sector expanded by 5.5 percent, largely similar to the 5.7 percent growth recorded in the previous quarter. --Xinhua   
Other Business breaking news:
Manufacturing moving from China to US: survey (1 hr 25 mins ago)
US billionaire's hedge fund dumps Sony stake (1 hr 29 mins ago)
Hang Seng down by break (1 hr 30 mins ago)
Nikkei weak by break (2 hrs 37 mins ago)
Takata shares drop on report of US air bag probe (2 hrs 38 mins ago)
China manufacturing sector grows faster in October: survey (2 hrs 41 mins ago)
Sk Hynix logs all-time high Q3 earnings (2 hrs 41 mins ago)
Apple computer sells for record US$905K in NY: Bonhams (2 hrs 42 mins ago)
Heineken Q3 sales dip, but toasts 2014 outlook (10-22 18:38)
Boeing and Chinese firm to turn 'gutter oil' into jet fuel (10-22 18:37)

More breaking news >>

© 2014 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2014, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.