Singapore Becomes Asia’s Fastest Growing Economy

International Business Times:  The economy of Singapore surged by 14.7 percent in 2010, primarily driven by a surge in manufacturing activity, versus a 1.3 decline in the prior year, making it Asia’s fastest-growing economy.

Click here for larger picture of Marina Bay Sands Casino site in February, 2010

The GDP performing from 2010 surpasses the prior record growth of 13.8 percent established in 1970.
According to data from the International Monetary Fund (IMF), Singapore’s performance last year was second only to Qatar, which grew by 16 percent in 2010.

The economy expanded by 6.9 percent (on an annualized basis) in the fourth quarter. The services sector, which accounts for about two-thirds of Singapore’s economy, grew by 8.8 percent in the fourth quarter of 2010 alone.  Read more at IB Times…..