Singapore's Q4 economy grows slower than first estimates

Visitors walk past a Gucci store at Marina Bay Sands in Singapore January 19, 2023. REUTERS/Chen Lin/File Photo

SINGAPORE: Singapore's economy grew slower than initial estimates in the fourth quarter of last year, on downward revisions in construction and manufacturing but the city-state was still hopeful of a pick up in activity in 2024.

Gross domestic product (GDP) rose 2.2% on a year-on-year basis in the fourth quarter, government data showed on Thursday, lower than an advance estimate of 2.8% released last month.