Singapore GDP Growth To Ease In 2023: MTI
Singapore's economy is set to expand at a much slower pace next year in tandem with the deterioration in external demand conditions, the Ministry of Trade and Industry said Wednesday.
The city-state economy is expected to grow by "0.5 to 2.5 percent" in 2023.
The ministry downgraded its growth outlook for this year to around 3.5 percent from 3.0 percent to 4.0 percent estimated previously.
In the third quarter, gross domestic product grew 4.1 percent on a yearly basis, slower than the 4.5 percent expansion in the preceding period, the ministry said. The estimate for the third quarter was revised down from 4.4 percent.
On a quarterly basis, economic growth was lowered to 1.1 percent from 1.5 percent. Nonetheless, this reversed the 0.1 percent contraction in the second quarter.
Economic News
Reprinted from RTTNews,the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.