The quarter’s overall GDP was led by expansions in the construction sector which rose by 6.0% y-o-y, as well as accommodation & food services, real estate, administrative & support services and other services, which rose by 4.7% y-o-y.
The Singapore economy grew by 0.7% on a y-o-y basis in the 3Q2023, according to the Ministry of Trade and Industry’s (MTI) advance estimates.
On a q-o-q seasonally-adjusted basis, the economy expanded by 1.0%.
