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SINGAPORE: Manufacturing Rebound Pushes GDP Higher. 

SINGAPORE
SingaporeEM BulletBulletAPACEmerging Market News
  • Singapore’s third quarter GDP YoY rebounded to +5.4% from +4.1% in 2Q.
  • Seasonally adjusted this equated to a +3.2% YoY result versus +2.1% in 2Q.
  • The Data showed that manufacturing and good producing industries were behind the rise whereas most other sectors were flat.
  • The Government has upgraded is 2024 full year forecast to around +3.5% from the 2%-3% prior suggesting that as one of Asia’s most open economies, positive signs for the island state bode well for the broader region. 
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  • Singapore’s third quarter GDP YoY rebounded to +5.4% from +4.1% in 2Q.
  • Seasonally adjusted this equated to a +3.2% YoY result versus +2.1% in 2Q.
  • The Data showed that manufacturing and good producing industries were behind the rise whereas most other sectors were flat.
  • The Government has upgraded is 2024 full year forecast to around +3.5% from the 2%-3% prior suggesting that as one of Asia’s most open economies, positive signs for the island state bode well for the broader region.