This country was near a technical recession last year — Its latest growth nearly doubled estimates

Singapore's trade-reliant economy grew more than expected in the third quarter from the previous quarter on an annualized basis, on the back of manufacturing growth, preliminary data showed on Friday.

Brynne Rinderknecht

Shophouses line many streets in downtown Singapore.

The economy expanded 6.3 percent in the July-September period on an annualized and seasonally adjusted basis, the Ministry of Trade and Industry said on Friday in a statement.

Economists polled by Reuters produced a median forecast of 3.2 percent annualized growth for July-September. GDP rose 4.6 percent in the third quarter from a year earlier, compared to a median forecast of 3.8 percent.


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