Singapore Q1 GDP up 2.7% y/y, above market forecast – Times of India

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SINGAPORE: Singapore’s economy grew 2.7% on a year-on-year basis in the first quarter of 2024, government data showed on Thursday, matching a preliminary estimate of 2.7% released last month.

Economists surveyed by Reuters had forecast annual gross domestic product (GDP) growth would come in at 2.5% in the first quarter.

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On a quarter-on-quarter seasonally adjusted basis, GDP expanded 0.1% in the January to March period, in line with a preliminary estimate of 0.1% growth.

The trade ministry maintained its GDP growth forecast for 2024 at 1.0% to 3.0%.

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