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GDP estimates likely to be revised upwards

Unexpected growth of manufacturing sector by 6.2% in Dec from a year ago will result in upgrades: economists

Published Fri, Jan 24, 2014 · 10:00 PM
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Singapore

THE Republic's Q4 and full-year GDP estimates look set to be revised higher than most expected, after the manufacturing sector grew by a surprising 6.2 per cent in December from a year ago. But the volatility and large revisions to official data are giving economists pause.

The unexpected rise in industrial production was largely due to double-digit jumps in electronics (22.2 per cent) and transport engineering (13.8 per cent) output, which helped offset a 14.9 per cent contraction in the biomedical manufacturing cluster.

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