Singapore 2011 economic growth slows to 4.8 pct

(AP)  SINGAPORE — Prime Minister Lee Hsien Loong says Singapore's economic growth slowed in 2011 as global demand waned for the city-state's exports.

Lee said in a statement Saturday that gross domestic product expanded 4.8 percent, down from 15 percent in 2010. The government initially expected growth of between 4 percent and 6 percent in 2011.

Lee reiterated the government's growth forecast for 2012 of between 1 percent and 3 percent.

Lee said next year will likely be difficult for the global economy and "Singapore will inevitably be affected."

The government plans to announce preliminary fourth quarter GDP results on Tuesday.