Singapore said a global slowdown in the final months of the year will cap full-year economic growth at about 3 percent before an uneven recovery in 2015.
The island’s expansion will probably ease after gross domestic product rose 3.3 percent in the first three quarters from a year earlier, the Ministry of Trade and Industry said today. GDP grew 2.8 percent in the three months through September from a year earlier, and gained an annualized 3.1 percent from the second quarter, more than an October estimate.
“Externally-oriented sectors such as the manufacturing and transportation and storage sectors are likely to slow,” the ministry said. “While global growth is expected to pick up modestly in 2015, the pace of recovery is likely to remain uneven across the economies.”