separates expansion from contraction. (DJN) Singapore's economy grew at a slower pace in the fourth quarter of 2022, mainly due to a contraction in the manufacturing sector. Gross domestic product expanded 2.2% in the quarter ended December from a year earlier, according to advance estimates released by the Ministry of Trade and Industry on Tuesday. That was slower than the 4.2% growth in the third quarter, but beat the 2.05% growth expected by four economists polled by The Wall Street Journal. (DJN) Eurozone industrial activity softened in December according to manufacturing PMIs, pointing to a small economic contraction ahead, Oxford Economics senior economist Katharina Koenz says in a note. The survey details show that demand for goods remained weak at the end of 2022, but also signal softening price pressures and easing supply-chain disruptions, she says. Turkey's annual inflation rate declined in December for a second consecutive month to its lowest level since March, a sign of softening price pressures as commodity and energy prices ease. The consumer price index--which measures what consumers pay for goods and services--rose 64.3% in December on year, slowing from a 84.4% increase in November, according to data from the national statistics office Turkstat released Tuesday. (DJN) Kenya's inflation fell to 9.1% in December from 9.5% the prior month due to lower food and fuel prices, the country's central bank said. Food inflation fell to 13.8% from 15.4% in November on declining international edible oil prices and favorable weather, which improved food production, the bank said in its weekly report. (DJN) Feedback Loop

This newsletter was compiled by Michael Maloney in New York and Perry Cleveland-Peck in Barcelona.

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This article is a text version of a Wall Street Journal newsletter published earlier today.


(END) Dow Jones Newswires

01-03-23 0715ET