Singapore maintains a cautiously optimistic economic outlook despite global uncertainties, with projections indicating a modest growth range of 1 to 3 percent for 2024.
SINGAPORE (Reuters) -Singapore's economy grew slower than initial estimates in the fourth quarter of last year, on downward revisions in construction and manufacturing but the city-state was still hopeful of a pick up in activity in 2024. Gross domestic product (GDP) rose 2.2% on a year-on-year basis in the fourth quarter, government data showed on Thursday, lower than an advance estimate of 2.8% released last month. The fourth-quarter expansion was also below the 2.5% in a Reuters poll of forecasts.
Singapore economy grew 2.2% in Q4, lower than estimate inquirer.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from inquirer.net Daily Mail and Mail on Sunday newspapers.
The Ministry of Trade and Industry warned of “significant” downside risks that remained in the global economy, such as the risk of an escalation in the Israel-Hamas conflict or war in Ukraine.