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)
