Singapore avoids recession with Q4 growth | Bangkok Post: news

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Singapore avoids recession with Q4 growth

Singapore escaped a technical recession after the economy grew in the fourth quarter thanks to a boost from services, government data showed Wednesday, but prospects for 2013 remain gloomy.

Singapore escaped a technical recession after the economy grew in the fourth quarter thanks to a boost from services, government data showed Wednesday, but prospects for 2013 remain gloomy.

Gross domestic product (GDP) rose by an estimated 1.1 percent year-on-year in the three months to December, from zero growth in the previous quarter, the Ministry of Trade and Industry said.

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