Singapore's Economy Grows 2.2% in Q4 2023, Slower Than Expected

📆 2/15/2024 4:35 AM
📰 STForeignDesk

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Singapore’s economy grew 2.2% year on year in the fourth quarter of 2023, slower than the Government’s advance estimate and economists’ expectations. Full-year 2023 growth was 1.1%, down from 3.8% in 2022. Analysts had expected gross domestic product (GDP) growth of 2.5% in Q4 2023. Ministry of Trade and Industry (MTI) maintains its forecast for 2024 at 1-3%.

Singapore’s economy grew 2.2% YoY in Q4 2023, slower than expected. Full-year growth for 2023 was 1.1%, down from 3.8% in 2022. Analysts had expected 2.5% growth in Q4 2023. MTI maintains its forecast for 2024 at 1-3%.

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