Singapore’s economy hits a bump in fourth quarter

Singapore’s economy expanded 4.4 percent on year in the final quarter of 2013, below market expectations, data on Thursday showed.

Economists polled by Reuters had forecast a rise of 4.7 percent. The number also marked a slowdown from a revised 5.9 percent rise in the third quarter.

Measured on a quarterly, annualized basis, economic growth in the city state fell 2.7 percent in the last quarter of 2013 compared with analyst expectations for a 1.6 percent fall.

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