$CityDev (C09.SG)$$Mapletree Log Tr (M44U.SG)$ INGAPORE: Sin...

INGAPORE: Singapore's economy grew 2.7 per cent year-on-year in the first quarter of 2024, according to advance estimates from the Ministry of Trade and Industry (MTI) on Friday (Apr 12).

This was faster than the 2.2 per cent growth recorded in the last quarter of 2023.

On a quarter-on-quarter seasonally adjusted basis, Singapore's economy expanded by 0.1 per cent, extending the 1.2 per cent expansion in the fourth quarter of 2023.

Advance gross domestic product estimates are computed largely from data gathered in the first two months of the quarter – January and February in this case.

They are intended as an early indicator of GDP growth for the quarter and are subject to revision when more comprehensive data is available, said MTI.