14 October 2010. The Ministry of Trade and Industry (MTI) announced today that the Singapore economy remains on track to achieve the overall growth forecast of 13 to 15 per cent for the whole of 2010. Advance estimates1 showed that the economy expanded by 10.3 per cent in the third quarter of 2010 compared to the same period a year ago. On a seasonally-adjusted quarter-on-quarter annualised basis, the economy contracted by 19.8 per cent, a reversal from the growth of 27.3 per cent in the previous quarter.

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MINISTRY OF TRADE AND INDUSTRY
14 October 2010