SINGAPORE (Jan 2): Analysts expect a “tepid recovery” for the Singapore economy in 2020, after advance GDP estimates released Thursday pointed to the worst growth performance for the city state since the global financial crisis in 2009.

According to the Ministry of Trade and Ministry (MTI), the Singapore economy grew by 0.8% y-o-y in 4Q19, led by a 2.1% growth in the construction sector and a 1.4% growth in the services producing industries.

Growth in the construction sector was supported by public sector construction activities, while services producing industries growth was primarily supported by the finance & insurance sector, the other services industries, and the business services sector.

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