2023.02.1223:21:00UTC+00Singapore GDP Grows 0.1% On Quarter, +2.1% On Year In Q4

Singapore's gross domestic product expanded a seasonally adjusted 0.1 percent on quarter in the fourth quarter of 2022, the Ministry of Trade and Industry said on Monday.

That missed expectations for an increase of 0.3 percent following the 0.8 percent gain in the third quarter.

On a yearly basis, GDP was up 2.1 percent - again shy of expectations for 2.3 percent following the upwardly revised 4.0 percent increase in the three months prior (originally 2.2 percent.

For all of 2022, GDP expanded 3.6 percent, slowing from 8.9 percent in 2021.

Upon the release of the data, the MTI maintained its growth forecast for 2023 at 0.5 to 2.5 percent.