SINGAPORE (Reuters) – Singapore’s financial system grew 4.0% in 2024, accelerating from 1.1% development in 2023, preliminary authorities knowledge confirmed on Thursday.
Gross Home Product (GDP) rose 4.3% within the fourth quarter from a 12 months earlier, in line with advance estimates from the commerce ministry, above a median forecast of three.3% in a Reuters ballot of economists.
On a quarter-on-quarter seasonally adjusted foundation, GDP expanded 0.1% within the October-December interval, the advance estimates confirmed.
November’s annual inflation fee of 1.9% was the bottom in nearly 3 years, creating room for the central financial institution to ease financial coverage at its January evaluate, although analysts imagine it’d wait till later in 2025 to evaluate the impression of incoming U.S. President Donald Trump’s insurance policies.
The Financial Authority of Singapore held coverage regular at its October evaluate as knowledge confirmed the tempo of exercise choosing up. Its subsequent evaluate is due earlier than the top of the month.
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