Singapore's Q2 GDP grew 2.9%, exceeding expectations, driven by a global demand revival in electronics.

Singapore's GDP grew 2.9% in Q2, exceeding expectations, as the city-state's economy benefits from a global demand revival, especially in electronics. The Ministry of Trade and Industry reports that on a quarter-on-quarter basis and seasonally adjusted, the economy expanded 0.4%, the most since Q2 2023. The growth was supported by a rebound in manufacturing, particularly in the semiconductor industry.

July 12, 2024
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