Singapore GDP in Q1 (final) -0.4% q/q (expected -0.6%) and +0.4% y/y (expected +0.2%)

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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