Singapore economy

Singapore attained an average score of 0.79.

The figure translates to 17.3% of Singapore's GDP last year.

This will boost the country’s semiconductor supply chains.

Hong Kong Chief Executive John Lee visited Singapore as part of a week-long ASEAN trip.

This extended the 17.9% decrease in the previous month.

The services sector reported over 27,000 new hires, of which over 5,000 are migrant domestic workers.

The economy grew 0.1% YoY.

UOB expects full-year GDP to grow by only 0.7%.

They expect full-year inflation to come in between 3.5% and 5.9%.

GDP growth slowed down to 3.6% in 2022.

UOB forecasts a 0.7% GDP growth rate. 

They expect GDP to expand by 3.8% by the end of 2022.

The full-year growth forecast was lowered to 3.8% from 4%.

On a quarterly and seasonally adjusted basis, it grew by 0.7%.

Restaurants experienced the most YoY decline at 24%. 

According to UOB, this growth was led by the biomedical manufacturing cluster.