Singapore feels drag as China growth weakens

Singapore’s GDP rose an annualized 1.6% in the final three months of the year as slowing growth in China threw the export-dependent island’s manufacturing industry for a loop, Bloomberg reported. Singapore’s manufacturing fell 5.8% last quarter from the previous three months, the country’s trade ministry said; the services industry grew 3.8% in the same period, while construction expanded 8%. The economy expanded 2.8% last year according to advance estimates computed largely from figures in the first two months of the quarter and which may be revised.