Singapore - The Singapore economy grew by 1.1 per cent in 2008, compared with 7.8 per cent a year earlier, the Ministry of Trade said Tuesday.
However, the city-state's gross domestic product (GDP) fell by 4.2 per cent on a year-on-year basis in the fourth quarter after posting flat growth in the third quarter.
On an annualized, seasonally adjusted basis, GDP slumped by 16.4 per cent from October to December last year, following a 2.1-per-cent contraction in the previous quarter, the ministry said.