Singapore’s economy is set to grow 3.8% in 2022, preliminary data showed on Tuesday, outpacing government expectations but slower than last year.
The government’s official forecast for growth in 2022 was 3.5%, down from 7.6% in 2021.
The gross domestic product (GDP) grew by 2.2% in October-December on a year-on-year basis, the Ministry of Trade and Industry said in a statement. Eight economists polled by Reuters had expected a 2.1% increase.
On a quarter-on-quarter seasonally adjusted basis, GDP grew by 0.2% in October-December.