Economic Survey of Singapore 3Q 2022
In the third quarter of 2022, the Singapore economy grew by 4.1% on a year-on-year basis, bringing growth in the first three quarters of 2022 to 4.2%.
Taking this as well as the latest external and domestic developments into account, Singapore’s GDP growth forecast for 2022 has been narrowed to “around 3.5%”, from “3.0% to 4.0%”.
Looking ahead to 2023, Singapore’s GDP growth is expected to moderate to “0.5% to 2.5%” in tandem with the projected slowdown in the global economy.
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