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Page1of3ECON1016, 2020 S1, Policy Brief ‘Student template (Part A)’ECON 1016 – Macroeconomics 1Policy Brief ‘Student template’Part A:Diagnostics AnalysisName of country:SingaporeIndicator from Group A:Gross Domestic Product (GDP)Presentation (2 marks)Figure 1. Graph of Singapore real GDP (SGD$ Billion) from 2015 - 2019 (Trading Economics,n.d.)Comments and observations(Maximum 7 lines)(4 marks)Singapore's GDP has shown a strong growth rate from 2015 to 2018. However, during 2019,Singapore’s full-year GDP growth was only at 0.7 per cent showing a decrease in performancecompared to 2018 whereby the full-year GDP growth was at 3.1 per cent. Singapore's GDP in 2019was mainly driven by the service sector, however, the weak performance in the manufacturingindustry caused an offset to the growth (See, 2019). Based on the observed trends, the Singapore