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Singapore:  Resilience in GDP print

SINGAPORE
  • Singapore’s economy expanded at 2.9% yoy in the second quarter according to data released today.
  • Market expectations were for a modest slowdown relative to the prior quarter as other economies in the region moderated.
  • The Singapore economy has shown resilience in the face of this regional slowdown, rising geopolitical tensions and concerns that the US is heading for recession.
  • Singapore has forecast it’s 2024 growth to be in the 2-3% area.
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  • Singapore’s economy expanded at 2.9% yoy in the second quarter according to data released today.
  • Market expectations were for a modest slowdown relative to the prior quarter as other economies in the region moderated.
  • The Singapore economy has shown resilience in the face of this regional slowdown, rising geopolitical tensions and concerns that the US is heading for recession.
  • Singapore has forecast it’s 2024 growth to be in the 2-3% area.