Singapore 's economy gained momentum in the fourth quarter of 2023 amid a rebound in the manufacturing sector and continued expansion in construction output . On a quarter-on-quarter seasonally-adjusted basis, the economy expanded by 1.7 per cent, extending the 1.3 per cent expansion in the previous quarter. The growth in the fourth quarter was driven by expansions in the manufacturing and construction sectors.
The manufacturing sector returned to expansion after three quarters of contraction, according to MTI. The advance GDP estimates for the fourth quarter are computed largely from data in October and November — 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 becomes available, said MTI. For the whole of 2023, the economy grew by 1.2 per cent, moderating from the
Source: Financial Digest (financialdigest.net)
Singapore Economy Fourth Quarter Manufacturing Sector Construction Output Growth
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