The economy of Singapore grew 1.6 percent on a quarter-on-quarter seasonally-adjusted annualised basis in the three months to December 2018, following an upwardly revised 3.5 percent growth in the previous period and missing market consensus of 2.9 percent, a preliminary estimate showed. Output growth eased for both services producing industries (3.7 percent vs 5.3 percent in Q3) and construction (1.1 percent vs 3.3 percent), while manufacturing slumped 8.7 percent, reversing a 3.1 percent growth in the third quarter. GDP Growth Rate in Singapore averaged 6.73 percent from 1975 until 2018, reaching an all time high of 36.60 percent in the first quarter of 2010 and a record low of -13.50 percent in the fourth quarter of 2008.
GDP Growth Rate in Singapore is expected to be 1.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Singapore to stand at 3.20 in 12 months time. In the long-term, the Singapore GDP Growth Rate is projected to trend around 3.70 percent in 2020, according to our econometric models.