Macro - Country Economic Forecasts - Singapore

Macro - Country Economic Forecasts - Singapore

Singapore's advanced Q3 GDP data were better than expected and trade data show an improvement in September, meaning risks to our 2023 growth forecast of 0.4% lie to the upside. Still, the overall picture remains subdued. External headwinds are set to persist into 2024 and service sector growth is likely to ebb. Next year, we expect still-below-trend growth of 2.3%.