Singapore’s economy grew at a much faster pace than earlier thought in the fourth quarter, revised data on Tuesday showed. The wealthy city state expanded an annualized 4.9 percent in the three months ending December from the previous quarter, better than a 2.1 percent estimate from Reuters and much better than the 1.6 percent previous print.
Year on year, the economy clocked a 2.1 percent growth pace, higher than the 1.7 percent consensus and compared with the 1.5 percent earlier estimate.
The Monetary Authority of Singapore, the state’s default central bank, surprised markets last month by easing monetary policy, sending its currency sharply lower.
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