3 E c o n o m y
The Singapore economy grew by 7.2 per cent
during the first quarter of 1995. This was largely
due to slower growth in the manufacturing,
construction and transport and communications
sectors compared to the previous quarter.
However, the financial an business services,
and commerce sectors grew faster.
The manufacturing sector grew by 7.3 per
cent, down from 12 per cent a quarter ago. The
major industries recorded mixed performances.
Out put declined in the petroleum,
transport equipment, and paints and pharmaceutical
industries by continued to grow in the
other key industries. The lower output in the
petroleum and pharmaceutical industries were
partly due to shutdowns of plants for maintenance.
2. Packaging Industry