Singapore Q1 GDP expands 0.1% y/y, misses forecast

Kitco Media
By Reuters
Published:
Updated:
Reuters
SINGAPORE, April 14 (Reuters) - Singapore's economy grew slower than expected in the first quarter, preliminary government data showed on Friday. Gross domestic product (GDP) was up 0.1% in the January to March period on a year-on-year basis, according to advance estimates from the Ministry of Trade and Industry. Economists polled by Reuters had expected growth of 0.6%. On a quarter-on-quarter seasonally adjusted basis, GDP contracted 0.7% in January-March. Singapore removed all remaining COVID-19 curbs in February this year and expects the tourism sector to recover to pre-pandemic levels by 2024. (Reporting by Chen Lin in Singapore; Editing by Sam Holmes)

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