The economy in Singapore is expected to rebound from 2009 recession with a +6.5% increase in gross domestic product (GDP) in 2010, according to the Monetary Authority of Singapore.

The previous survey in December 2009 had predicted that the economy would grow +5.5% in 2010, however the manufacturing and construction industries have fuelled growth. Singapores economy relies on trade, finance and tourism and will likely see a +9.7% expansion in the manufacturing sector and a +8.9% jump in construction, according to the report.

The Government expects the economy to grow between +4.5-6.5% in 2010 after a -2% contraction in 2009. Analysts meanwhile predict the economy is likely to grow 9.5% in Q1 from a year earlier and 6.3% in Q2 as the inflation rate will probably rise to 2.7% this year, the unemployment rate will be 2%.