SINGAPORE (Reuters) – Singapore’s economy grew 4.0% in 2024, accelerating from 1.1% growth in 2023, preliminary government data showed on Thursday.
Gross domestic product (GDP) rose 4.3% in the fourth quarter from a year earlier, according to advance estimates from the Commerce Ministry, above a median forecast of 3.3% in a Reuters poll of economists.
On a seasonally adjusted quarterly basis, GDP expanded 0.1% in the October-December period, advance estimates showed.
November’s annual inflation rate of 1.9% was the lowest in almost three years, creating room for the central bank to ease monetary policy in its January review, although analysts believe it could wait until later. in 2025 to assess the impact of incoming US President Donald Trump’s monetary policy. policies.
The Monetary Authority of Singapore kept policy steady in its October review as data showed the pace of activity was picking up. Your next review should be done before the end of the month.