SINGAPORE: Singapore’s economy grew by 4.1% in Q3 2024 compared to last year, boosted by a recovering manufacturing sector.
This growth is up from 2.9% in Q2 2024, as reported by the Ministry of Trade and Industry (MTI) on October 14.
On a quarterly basis, the economy expanded by 2.1%, compared to only 0.4% in Q2.
These preliminary GDP estimates are based on data from July and August and may change as more data comes in.
In August, Singapore revised its GDP growth forecast for the year to 2% – 3%, improving from an earlier projection of 1% – 3% due to strong first-half performance.
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