Singapore GDP Adds 1.2% On Quarter In Q4

(RTTNews) - Singapore's gross domestic product expanded a seasonally adjusted 1.2 percent on quarter in the fourth quarter of 2023, the Ministry of Trade and Industry said on Thursday.

That was shy of expectations for an increase of 1.7 percent and slowed from 1.3 percent in the third quarter.

On an annualized basis, GDP rose 2.2 percent - again missing forecasts for a gain of 2.8 percent but up from 1.0 percent in the three months prior.

For all of 2023, Singapore's GDP was up 1.1 percent - moderating from 3.8 percent a year earlier.

Upon the release of the data, the MTI maintained its growth forecast for Singapore at 1.0 to 3.0 percent.