Singapore Q1 GDP up 2.7% y/y, above market forecast

A general view shows the central business district in Singapore on April 29, 2024. (Photo by Roslan RAHMAN / AFP)

SINGAPORE: Singapore's economy grew 2.7% on a year-on-year basis in the first quarter of 2024, government data showed on Thursday, matching a preliminary estimate of 2.7% released last month.

Economists surveyed by Reuters had forecast annual gross domestic product (GDP) growth would come in at 2.5% in the first quarter.