Financial News: Singapore GDP Climbs 5.4% On Year In Q3

Singapore GDP Climbs 5.4% On Year In Q3

11/21/2024 - 20:10:00 (RTTNews)

(RTTNews) - Singapore's gross domestic product expanded 5.4 percent on year in the third quarter of 2024, the Ministry of Trade and Industry said on Friday, accelerating from the 3.0 percent gain in the three months prior.

On a seasonally adjusted quarterly basis, the economy grew by 3.2 percent, accelerating from the 0.5 per cent expansion in the previous quarter.

For the first three quarters of the year, GDP growth averaged 3.8 per cent year-on-year.

Upon the release of the data, the MTI said that Singapore's GDP growth is projected to come in at around 3.5 percent in 2024 and between 1.0 and 3.0 percent in 2025.

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