Economists more optimistic for 2024 as Singapore economy ends 2023 on a higher note

PM Lee in his annual New Year Message on Dec 31 said that the economy is expected to grow by 1 per cent to 3 per cent in 2024. - ST PHOTO: ONG WEE JIN

SINGAPORE: Economists are looking at 2024 with more optimism after Singapore’s economy grew faster than expected in the final quarter of 2023, with the manufacturing sector finally returning to growth.

The economy expanded 2.8 per cent year on year in the three months to December, compared with 1 per cent in the previous quarter, and far exceeding the 1.8 per cent growth tipped by analysts in a Bloomberg poll.