Singapore Q4 GDP shrinks, avoids recession on revisions
* Advance Q4 GDP +1.8 pct q/q vs median forecast of -0.9 pct
* Q4 GDP +1.1 pct y/y vs median forecast of +0.9 pct
* Q3 GDP revised to show sharper q/q contraction of 6.3 pct
* Singapore economy grew 1.2 pct last year
SINGAPORE, Jan 2 (Reuters) - Singapore's Ministry of Trade and Industry released advance economic estimates for the fourth quarter of 2012 on Wednesday:
ACTUAL GDP (PCT CHANGE)
Period Q4/2012 Q3/2012* Q2/2012* Q1/2012* Q4/2011 Q/Q SAAR 1.8 -6.3 0.2 9.5 -2.5 Y/Y 1.1 0.0 2.3 1.5 3.6 * Q1, Q2 and Q3 GDP figures were revised downwards. Government
had earlier reported seasonally adjusted and annualised contraction of 5.9 percent for Q3.
Notes: - Q/Q SAAR is quarter-on-quarter, seasonally adjusted annualized rate. - Y/Y is year-on-year.
CONTEXT - Singapore avoids recession in Q4 due to revisions in GDP data for previous quarters. The city-state's last recession was in 2009. - The median forecast of economists polled by Reuters was for Q4 GDP to contract 0.9 percent q/q SAAR and expand 0.9 percent year-on-year. - The fall in Q4 GDP was led by manufacturing, which contracted 10.8 percent q/q SAAR. - Services rose 7.0 percent q/q SAAR, while construction fell 8.9 percent q/q. - From a year earlier, services expanded 1.5 percent and construction grew 5.9 percent. - Singapore's economy grew 1.2 percent in full-year 2012, below the government's forecast of around 1.5 percent.
- For news on the Singapore economy, see - To track Singapore economic data, click
(Reporting by Kevin Lim; Editing by Eric Meijer)