Business · Singapore Bureau
Singapore's economic growth slows to 5.4% in third quarter
Singapore's economy expanded at a slower pace in the third quarter, with growth moderating to 5.4 per cent year-on-year from 6.2 per cent in the previous quarter. On a seasonally adjusted quarter-on-quarter basis, the economy grew 1.1 per cent, down from 1.5 per cent in the second quarter.
LSN Singapore ·
The advance estimate for the third quarter signals a deceleration in Singapore's economic momentum as the city-state navigates shifting regional and global conditions. The year-on-year growth rate of 5.4 per cent, while still solid, reflects a tapering of the stronger expansion seen in the preceding quarter.
On a seasonally adjusted basis, which strips out regular fluctuations to reveal underlying economic trends, growth slowed to 1.1 per cent in the July-September period compared with 1.5 per cent in the April-June quarter. This quarter-on-quarter measure points to a more gradual expansion at the domestic level.
The moderation comes as economists continue to monitor the performance of key sectors driving Singapore's economy, including manufacturing, financial services, and trade-related activities. Regional supply chain dynamics and international demand patterns remain key factors influencing the island nation's economic trajectory.
The advance estimate provides policymakers and businesses with an initial gauge of third-quarter performance, with more detailed sectoral breakdowns expected in subsequent official releases.