Singapore’s Ministry of Trade and Industry announced yesterday morning that based on advance estimates, the country’s gross domestic product (GDP) for the third quarter of 2018 grew 2.6 per cent year on year, reports Xinhua from Singapore.

It is lower than the GDP growth of 4.1 per cent for the second quarter of 2018.

On a quarter-on-quarter seasonally-adjusted annualized basis, Singapore’s economy expanded by 4.7 percent in the third quarter, higher than the recalculated 1.2 percent growth in the previous quarter.

In a breakdown, Singapore’s manufacturing sector grew 4.5 percent year on year in the third quarter, compared to the 10.6 percent growth in the second quarter. The construction sector contracted by 3.1 percent year on year, compared to the 4.2 percent decline in the previous quarter, primarily due to the weakness in public sector construction activities.