Ministry: The country's gross domestic product (GDP) grew by 4.4 per cent year on year in the third quarter of 2022. theSun theSunDaily NewsBreak economy Singapore
: Singapore's Ministry of Trade and Industry announced on Friday that based on advance estimates, the country's gross domestic product grew by 4.4 per cent year on year in the third quarter of 2022, easing slightly from the 4.5 per cent growth in the previous quarter.
On a quarter-on-quarter seasonally-adjusted basis, Singapore's economy grew by 1.5 per cent in the third quarter, a turnaround from the 0.2 per cent contraction in the second quarter, reported Xinhua. In a breakdown, Singapore's manufacturing sector expanded by 1.5 per cent year on year in the third quarter, the construction sector grew by 7.8 per cent year on year, and the services-producing industries expanded by 6.1 per cent year on year.
The advanced GDP estimates released on Friday were computed largely from data in the first two months of the quarter, according to the ministry. These figures are intended as an early indication of the GDP growth in the quarter, and are subject to revision when more comprehensive data become available.
The ministry said it will release the preliminary GDP estimates for the third quarter this November.-
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