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Singapore GDP grows 2.4 per cent in third quarter

SINGAPORE – The Republic’s economy expanded 2.4 per cent in the third quarter of this year from a year ago based on advance estimates, the Ministry of Trade and Industry (MTI) said today (Oct 14). The growth was unchanged from the previous quarter.

Central Business District skyline. TODAY file photo

Central Business District skyline. TODAY file photo

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SINGAPORE – The Republic’s economy expanded 2.4 per cent in the third quarter of this year from a year ago based on advance estimates, the Ministry of Trade and Industry (MTI) said today (Oct 14). The growth was unchanged from the previous quarter.

On a quarter-on-quarter seasonally-adjusted annualised basis, the economy expanded by 1.2 per cent.

Both the manufacturing and construction sectors grew 1.4 per cent on a year-on-year basis while the services sector recorded a stronger showing with a 2.9 per cent year-on-year growth.

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