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Singapore Industrial Production increased in January by 3.9%

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2014-04-26 08:46:51 - In Singapore, the increase in the volume of industrial production has fallen short of analysts' forecasts, largely due to the decline in the shipbuilding industry.

Industrial output growth in the last month of 3.9 % against 6.4 % recorded in December. The median forecast of five economists surveyed by The Wall Street Journal, - 6,5%.

Seasonally adjusted industrial production on a monthly basis decreased by 8.1%, while the expected indicator fell by 4.5% in December recorded an increase of 3.4%, according to data released by the government.

Issue electronics, which accounts for one third of total production slowed in January to 7.4 % from 22.3 % recorded in December.

Transport engineering rose last month by 2.7 %, based on an annual rate, compared with 14 % m rise in December.

Singapore's economy grew by 3.7 % in 2013

Singapore's economic growth rate accelerated in 2013, Prime Minister of Singapore Lee

Hsien Loong.

GDP over the past year increased by 3.7 %, which corresponds to the government's forecast, which expects economic growth of 3.5% to 4%. Most experts surveyed by Bloomberg, predicted economic growth of Singapore by 3.55 %.

"Positive outlook for Asian economies remain, but at the same time there is a problem and some tension," - said the prime minister of the country.

Accelerating economic growth in Singapore was provided the U.S. economic recovery and the European region, despite rising costs for business in the country, as well as restrictions on the employment of foreign workers.

Lee Hsien Loong confirmed that economic growth forecast for next year is saved within 2-4%.

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