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Economists mixed on Singapore’s full-year growth outlook despite Q3’s upside surprise

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Tessa Oh

Tessa Oh

Published Fri, Oct 13, 2023 · 04:04 PM
    • While prospects for the economy remain muted in the near term, it should gradually improve in the second half of 2024, says the Monetary Authority of Singapore on Friday.
    • While prospects for the economy remain muted in the near term, it should gradually improve in the second half of 2024, says the Monetary Authority of Singapore on Friday. PHOTO: BT FILE

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    PRIVATE-SECTOR economists were mixed on Singapore’s full-year growth outlook for 2023, even after the country’s third-quarter gross domestic product (GDP) turned out to be stronger-than-expected.

    Singapore’s economy grew a surprising 0.7 per cent year on year in Q3 2023, advance estimates from the Ministry of Trade and Industry (MTI) showed on Friday (Oct 13).

    This was an improvement from Q2’s 0.5 per cent growth, and better than the 0.4 per cent expansion private-sector economists polled by Bloomberg were expecting.

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