SINGAPORE: Singapore's economy grew 3.8% in the first quarter of 2025 from a year earlier, slowing from an expansion of 5.0% in the fourth quarter of 2024, preliminary government data showed on Monday.
The trade ministry downgraded Singapore’s GDP growth forecast for 2025 to 0% to 2% from the previous range of 1% to 3%.
Economists polled by Reuters had expected annual growth of 4.3% in the January-March period.
On a quarter-on-quarter seasonally adjusted basis, gross domestic product contracted by 0.8%, according to advance estimates from the trade ministry. - Reuters
