Singapore economy beats forecasts with 1.8pc expansion

Singapore's economy expanded more than economists estimated last quarter, averting a recession even after the central bank refrained from monetary stimulus as it sought to contain elevated inflation.

Gross domestic product rose an annualised 1.8 per cent in the three months to December from the previous period, when it contracted a revised 6.3 per cent, the Trade Ministry said in a statement yesterday. The median estimate in a survey was for a 1.6 per cent expansion. The economy grew 1.2 per cent last year.

via Business feed http://www.scmp.com/business/economy/article/1118632/singapore-economy-beats-forecasts-18pc-expansion