Singapore Continues Robust Growth in Third Quarter

Singapore's economy continued its robust growth in the third quarter as the base of recovery extended beyond pharmaceuticals into the wider manufacturing and services industries.

CNBC.com

Gross domestic product in the July-September period of the year rose 0.8 percent from a year earlier, compared with a market forecast of 0.25 percent, returning to growth after three
quarters of annual contraction.

The government revised up its 2009 forecast to a contraction between 2.5 to 2 percent from an earlier forecast of a contraction of 4 to 6 percent.

The country kept its loose monetary policy unchanged on Monday, citing uncertainty over the sustainability of the global recovery, although its economy is recovering from its worst recession.

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