Singapore economy grows by 3.7 per cent in 2013 | 9 January 2014
Singapore’s economy grew by an estimated 3.7 per cent in 2013 after being boosted by the construction and property industries.
Channelnewsasia.com reports construction sector growth at 4.7 per cent, primarily due to notable activity across the public sector. Figures from the Urban Redevelopment Authority (URA) show – that for the first time in two years – private residential property prices fell during the fourth quarter of last year. But this trend is estimated to be short lived.
Analysts have predicted that the ongoing drive to build more housing and transport infrastructure should provide a further boost to the construction industry in 2014. Overall, the Singapore economy is expected to grow as as the continuing improvement in market conditions in the US, Europe and China have a knock on effect.
The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.
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