DBS Group Research economist Chua Han Teng sees that the Singapore economy is poised to recover in 2024 after enduring a challenging 2023. On a quarterly basis, there are signs of recovery in the 4Q2023 numbers, thanks to the manufacturing and construction sectors.
Analysts are upbeat on Singapore’s prospects for 2024 after the republic’s 4Q2023 GDP grew by 2.8% y-o-y, beating Bloomberg’s consensus of 1.8% y-o-y.
The Ministry of Trade and Industry (MTI) released its advanced estimates on Jan 2, which also revealed that Singapore’s full-year GDP growth came in at 1.2% y-o-y.
