Singapore Q1 GDP (end) -0.4% q/q
- expected -2.5%, prior +0.1%
Singapore’s MTI maintains GDP growth forecast for 2023 between +0.5% and +2.5%, with growth likely to be around the middle of the range
- Singapore’s external demand outlook for the rest of the year has weakened
- Growth prospects for sectors of the economy related to aviation and tourism remain positive
- The outlook for manufacturing and other trade-related economic sectors has weakened
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