Singapore’s economy grew at a stronger-than-expected pace in the third quarter, revised figures showed on Tuesday, easing concerns about the city-state’s ability to weather sluggish global growth.
The economy expanded 2.8 percent on year, the revised data showed, above expectations for a 2.5 percent rise in a Reuters poll and up from an advance reading of 2.4 percent released in October. The economy expanded 2.4 percent on year in the second quarter.
On a quarter-on-quarter annualized basis, the economy expanded 3.1 percent, above expectations for a 1.3 percent expansion and up sharply from an initial reading of 1.2 percent.
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