Singapore economy expands 2.7% in 1Q

Cruising along: The Marina Bay Sands hotel and casino in Singapore. The city-state’s growth trajectory is tipped to strengthen for the subsequent quarters of 2024, predicated on an improvement in the manufacturing recovery theme. — Bloomberg

SINGAPORE: Singapore’s economy, in the first three months of 2024, grew at its weakest quarter-on-quarter (q-o-q) pace in a year as manufacturing slowed, but economists see growth strengthening ahead.

On a q-o-q seasonally adjusted basis, the economy expanded by 0.1% in the first quarter, down from the 1.2% growth in the fourth quarter of 2023, according to advance estimates released on April 12 by the Trade and Industry Ministry.