Singapore Q1 GDP Expands 3.4% Y/Y, Slower Than Forecast

Reuters2022-04-14

SINGAPORE, April 14 (Reuters) - Singapore's economy grew slightly slower than expected in the first quarter, preliminary data showed on Thursday.

Gross domestic product (GDP) was up 3.4% in January-March on a year-on-year basis, according to advance estimates from the Ministry of Trade and Industry. Economists polled by Reuters had expected growth of 3.8%.

On a quarter-on-quarter seasonally adjusted basis, GDP grew 0.4% in January-March.

Singapore made its biggest reopening moves from the COVID-19 pandemic through late March and early April, easing local restrictions and allowing vaccinated travellers from anywhere in the world to enter without having to quarantine.

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