SINGAPORE: Singapore’s economy grew 3.8 per cent for the whole of 2022, slowing from the 7.6 per cent growth in the year before, according to advance estimates released by the Ministry of Trade and Industry (MTI) on Tuesday (Jan 3).
This is slightly above official expectations for the country’s gross domestic product (GDP) this year to come in at “around 3.5 per cent”.
For the final quarter of the year, the economy expanded by 2.2 per cent on a year-on-year basis, moderating from the 4.2 per cent growth in the third quarter.
On a quarter-on-quarter seasonally adjusted basis, the economy grew 0.2 per cent in the final quarter of the year, also slowing from the 1.1 per cent expansion in the earlier quarter, MTI’s data showed.
The advance GDP estimates are computed largely from data gathered in the first two months of the quarter.
They are intended as an early indication of GDP growth in the quarter and are subject to revision when more comprehensive data become available, MTI said.
The ministry will release the preliminary GDP estimates for the fourth quarter and whole of 2022 in February.
Continue reading...
This is slightly above official expectations for the country’s gross domestic product (GDP) this year to come in at “around 3.5 per cent”.
For the final quarter of the year, the economy expanded by 2.2 per cent on a year-on-year basis, moderating from the 4.2 per cent growth in the third quarter.
On a quarter-on-quarter seasonally adjusted basis, the economy grew 0.2 per cent in the final quarter of the year, also slowing from the 1.1 per cent expansion in the earlier quarter, MTI’s data showed.
The advance GDP estimates are computed largely from data gathered in the first two months of the quarter.
They are intended as an early indication of GDP growth in the quarter and are subject to revision when more comprehensive data become available, MTI said.
The ministry will release the preliminary GDP estimates for the fourth quarter and whole of 2022 in February.
Continue reading...