singapore growth beats forecasts as global trade improves
Friday 21 March 2025
Last Updated : GMT 09:07:40
Egypt Today, egypt today

Singapore growth beats forecasts as global trade improves

Egypt Today, egypt today

Egypt Today, egypt today Singapore growth beats forecasts as global trade improves

Singapore growth beats forecasts
Singapore - Egypt Today

Singapore's economy beat expectations to grow at its fastest pace in nearly four years during the third quarter, data showed Thursday, boosted by a surge in global demand that has buoyed Asia in the face of brewing protectionist fears.

The forecast-beating performance for the island-state follows similarly strong readings from the Philippines, Malaysia, Thailand, South Korea and Taiwan, all of which have benefited from a pick-up in world trade.

The trade ministry said the economy expanded 5.2 percent on-year in July-September, accelerating from 2.9 percent in the previous three months and the fastest rate since the fourth quarter of 2013.

It also beat the 5.0 predicted in a Bloomberg News survey.

The improvement came as the key manufacturing sector, a key pillar of the trade-dependent economy, expanded 18.4 percent, from 8.4 percent growth in the preceding quarter.

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singapore growth beats forecasts as global trade improves singapore growth beats forecasts as global trade improves



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