Singapore economic growth misses forecasts in first quarter

SINGAPORE, Singapore — Singapore 's economy grew slower than expected in the first quarter, early data showed Friday, as a struggling manufacturing sector weighed on tourism spending from events including Taylor Swift's concerts.

Manufacturing, a pillar of the trade-reliant economy, rose 0.8 percent on-year and contracted 2.9 percent from October-December."In all likelihood, the slew of concerts which attracted many international visitors to Singapore's shores, did have a temporal boost to the consumer-facing industries, namely the hospitality and entertainment-related activities," said Selena Ling, chief economist at banking group OCBC.

There could also be "spillover effects" into March of spending from the Singapore Airshow, added Song, at financial services firm CGS International Singapore.In a separate announcement, the central bank Monetary Authority of Singapore kept its monetary policy unchanged for a fourth straight time, saying it needed to keep inflation in check.

The onset of the dry season coincides with the nation grappling with the continued effects of El Niño, anticipated to persist until May, according to national weather bureau PAGASA.

Singapore Tourism

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

FACT CHECK: Fans did not climb up Singapore stadium roof for Taylor Swift concertGoogle reverse image search results show that the exact photo has been circulating on the internet since 2022
Source: rapplerdotcom - 🏆 4. / 86 Read more »

Filo Swifties reveal how much they spent on Taylor Swift 'Eras Tour' SingaporeFilipino Swifties revealed how much they spent on watching Taylor Swift's 'The Eras Tour' in Singapore. 
Source: PhilstarNews - 🏆 1. / 94 Read more »

Sara Duterte in rally calling for Marcos’ resignationThe wRap's highlights: Duterte & Marcos, resort in Chocolate Hills, Taylor Swift tour tickets
Source: rapplerdotcom - 🏆 4. / 86 Read more »

6 PR lessons from Taylor SwiftDefining the News
Source: MlaStandard - 🏆 20. / 55 Read more »

Sabrina Carpenter Reflects on Taylor Swift's 'The Eras Tour'Sabrina Carpenter expresses her gratitude for her time on Taylor Swift's 'The Eras Tour' and thanks the fans and crew. She also thanks Swift for the opportunity and expresses her love for the pop star.
Source: gmanews - 🏆 11. / 68 Read more »

Watch party relives Taylor Swift’s 'The Eras Tour' all too well“If you have children someday when they point to the pictures, please tell them my name [Taylor Swift].” It was indeed an enchanting night for all Swifties and we were born ready for it.
Source: BusinessMirror - 🏆 19. / 59 Read more »