Singapore's economy grew 5.4% in Q3 2024, with forecasts upgraded amid global uncertainties.

Singapore's economy grew by 5.4% year-over-year in Q3 2024, up from 3.0% in Q2, according to the Ministry of Trade and Industry. The ministry upgraded the 2024 GDP growth forecast to around 3.5%, up from 2.0%-3.0%, but projected 2025 growth to be between 1.0% and 3.0% due to global economic uncertainties. The electronics sector is expected to grow, while tourism and consumer sectors face challenges.

November 22, 2024
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