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SINGAPORE (Reuters) – Singapore’s economy grew by 4.0% in 2024, up from a 1.1% growth rate in 2023, preliminary government data showed on Thursday.
Gross Domestic Product (GDP) rose 4.3% in the fourth quarter from a year ago, according to estimates from the trade ministry, above the 3.3% forecast in a Reuters poll of economists.
On a quarter-on-quarter basis, GDP increased by 0.1% in the October-December period, preliminary estimates showed.
The annual inflation rate of 1.9% was the lowest in nearly 3 years, paving the way for the central bank to ease monetary policy in its January review, although analysts believe that it may wait until later in 2025 to assess the impact of US President Donald Trump. policies.
The Monetary Authority of Singapore kept the policy steady in its October review as data showed the pace of recovery continuing. The next test should be done before the end of the month.
