SINGAPORE, Dec 2 — Singapore's economy grew 4.0 per cent in 2024, accelerating from 1.1 per cent growth in 2023, preliminary government data showed today.
Gross Domestic Product (GDP) rose 4.3 per cent in the fourth quarter from a year earlier, according to advance estimates from the trade ministry, above a median forecast of 3.3 per cent in a Reuters poll of economists.
On a quarter-on-quarter seasonally adjusted basis, GDP expanded 0.1 per cent in the October-December period, the advance estimates showed.
November's annual inflation rate of 1.9 per cent was the lowest in almost three years, creating room for the central bank to ease monetary policy at its January review, though analysts believe it might wait until later in 2025 to assess the impact of incoming US President Donald Trump's policies.
The Monetary Authority of Singapore held policy steady at its October review as data showed the pace of activity picking up. Its next review is due before the end of the month.
— Reuters
