SINGAPORE: Singapore’s economy grew 3.4 per cent year-on-year in the first quarter of 2022, according to advance estimates released by the Ministry of Trade and Industry (MTI) on Thursday (Apr 14).
This marked a slower pace than the previous quarter when the economy expanded 6.1 per cent.
On a quarter-on-quarter seasonally adjusted basis, Singapore’s gross domestic product (GDP) grew 0.4 per cent in the first quarter, slower than the 2.3 per cent in the preceding quarter.
The advance GDP estimates are computed largely from data gathered in the first two months of the quarter.
Singapore's economy grew 7.6 per cent last year, the fastest pace in more than a decade, recovering from a 4.1 per cent contraction in pandemic-hit 2020.
Authorities have projected growth of 3 per cent to 5 per cent this year.
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This marked a slower pace than the previous quarter when the economy expanded 6.1 per cent.
On a quarter-on-quarter seasonally adjusted basis, Singapore’s gross domestic product (GDP) grew 0.4 per cent in the first quarter, slower than the 2.3 per cent in the preceding quarter.
The advance GDP estimates are computed largely from data gathered in the first two months of the quarter.
Singapore's economy grew 7.6 per cent last year, the fastest pace in more than a decade, recovering from a 4.1 per cent contraction in pandemic-hit 2020.
Authorities have projected growth of 3 per cent to 5 per cent this year.
Continue reading...