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Economic Buzz: Singapore Q1 GDP grows 3.9% YoY, but quarterly contraction signals headwinds
22-May-2025 09:45
Singapore's economy expanded 3.9% year-on-year in Q1 2025, down from 5% in the previous quarter, led by gains in wholesale trade, manufacturing, and finance. However, GDP shrank 0.6% quarter-on-quarter, reversing a 0.5% rise in Q4 2024. Citing near-term challenges, the government lowered its 2025 growth forecast to 0%'2% from 1%'3%.

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