Singapore economy

There will be challenges aplenty but also opportunities. We should be cautious but not unduly pessimistic

From a sectoral perspective, the construction, retail, services and wholesale sectors have seen a y-o-y decrease in the average proportion of payment delays in 2024.

MTI projection as of Nov 22 indicated growth of 'around 3.5%'

As its management of the Covid-19 pandemic has shown, Singapore has an impressive capacity to manage challenges

One significant contributor to persistent inflationary pressures throughout the first three quarters of 2024 has been car ownership costs, but CGSI says COE prices are expected to ease further.

In anticipation of the market’s digesting the implications of rising tariffs and trade uncertainties, the team at CGSI are suggesting a nimble approach for Singapore market investors in 2025.

Singapore’s 3Q2024 GDP growth was revised upwards to 5.4% y-o-y.

On a y-o-y basis, NODX grew by 9.2%, after the 6.5% decrease in the previous quarter.

During the month, Singapore’s NODX fell by 4.6% y-o-y and 7.6% on a m-o-m seasonally adjusted basis.

The easing in global financial conditions is another factor for Singapore's sustained growth in 2024. The central bank kept the prevailing rate of appreciation of the $SNEER unchanged in October.