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MTI Narrows Singapore’s GDP Growth Forecast for 2022 to “3.0 to 4.0 Per Cent”

MTI Narrows Singapore’s GDP Growth Forecast for 2022 to “3.0 to 4.0 Per Cent”

11 August 2022. The Ministry of Trade and Industry (MTI) today narrowed Singapore’s GDP growth forecast for 2022 to “3.0 to 4.0 per cent”, from “3.0 to 5.0 per cent”.

Economic Performance in Second Quarter 2022

The Singapore economy grew by 4.4 per cent on a year-on-year basis in the second quarter, faster than the 3.8 per cent growth recorded in the previous quarter. On a quarter-on-quarter seasonally-adjusted basis, the economy contracted slightly by 0.2 per cent, a reversal from the 0.8 per cent expansion in the first quarter.

Please click here for the full press release.

Economic Survey of Singapore Second Quarter 2022

MINISTRY OF TRADE AND INDUSTRY
11 August 2022

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