On a q-o-q seasonally adjusted basis, the economy expanded by 0.4%, slightly faster
than the revised 0.3% expansion seen in 1Q2024.
Singapore’s gross domestic product (GDP) grew by 2.9% in 2Q2024, according to the Ministry of Trade and Industry’s (MTI) advance estimates released on July 12. This is slightly slower than the revised rate of 3.0% growth notched in the previous quarter.
The 2Q2024 figure stands slightly ahead of market-watchers’ expectations of a 2.7% y-o-y growth in the Monetary Authority of Singapore’s (MAS) June 2024 survey of professional forecasters.
