Singapore GDP Climbs 1.4% In Q3

(RTTNews) - Singapore's gross domestic product expanded a seasonally adjusted 1.4 percent on quarter in the third quarter of 2023, the Ministry of Trade and Industry said on Wednesday.

That beat forecasts for an increase of 1.0 percent following the 0.1 percent gain in the second quarter.

On an annualized basis, GDP rose 1.1 percent - again topping forecasts for 0.7 percent and accelerating from 0.5 percent in the three months prior.

Upon the release of the data, the MTI announced that Singapore's GDP growth is projected to come in at around 1.0 percent in 2023 and 1.0 to 3.0 percent in 2024.