SINGAPORE: Singapore’s economy grew four. 8 per cent year-on-year in the first quarter of 2022, based on advance estimates released by the Ministry of Trade and Market (MTI) on Thursday night (Jul 14).
This expands the 4. 0 per cent growth documented in the previous quarter.
On a quarter-on-quarter seasonally-adjusted basis, Singapore’s major domestic product (GDP) was unchanged within the second quarter, right after posting an development of 0. 9 per cent in the initial quarter.
The particular advance GDP quotes for the second quarter of 2022 are usually computed largely from data in 04 and May.
They are intended as an earlier indication of GROSS DOMESTIC PRODUCT growth in the quarter and are subject to revision when more extensive data becomes available, said MTI.