Singapore Q4 GDP +2.1% y/y (vs expected +2.3%) | Forexlive

Singapore fourth quarter 2022 economic growth data, final.

+0.1% q/q

+2.1% y/y

• expected +2.3%, prior +2.2%

For 2022 as a whole +3.6% y/y

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Singapore’s Ministry of Trade and Industry (MTI):

• Maintains 2023 GDP growth forecast at +0.5% to +2.5%
• Says since economic
  survey in Nov 2022, external demand outlook has improved slightly
• Says growth outlook
  for aviation and tourism-related sectors of economy improved for 2023
• Says growth outlook
  for other outward-oriented sectors remains weak in 2023 given broader
  slowdown in global economy
• Says expect
  semiconductors segment of electronics cluster to be negatively
  affected in 2023 by weaker global semiconductor demand
• Says growth in
  finance and insurance sectors in 2023 will be dampened by slowdown in
  major external economies

(Headlines via Reuters)