Singapore GDP Sinks 0.7% In Q1

RTTNews | vor 819 Tagen
Singapore GDP Sinks 0.7% In Q1

(RTTNews) - Singapore's gross domestic product contracted a seasonally adjusted 0.7 percent on quarter in the first quarter of 2023, the Ministry of Trade and Industry said in Friday's preliminary reading.

That missed expectations for a decline of 0.2 percent following the downwardly revised 0.1 percent increase in the fourth quarter of 2022 (originally 0.3 percent).

On an annualized basis, GDP was up 0.1 percent - again shy of forecasts for a gain of 0.6 percent and down from 2.1 percent in the three months prior.

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