Business & Finance

Singapore Q4 GDP shrinks 3.8% y/y, less than forecast

  • GDP grew 2.1% on a quarter-on-quarter seasonally adjusted basis in October-December.
Published January 4, 2021

SINGAPORE: Singapore's economy contracted slightly less than expected in the fourth quarter from a year earlier, preliminary data showed on Monday.

Gross domestic product (GDP) shrank 3.8% in October-December on a year-on-year basis, the Ministry of Trade and Industry said in a statement. Economists polled by Reuters had expected a decline of 4.5%.

GDP grew 2.1% on a quarter-on-quarter seasonally adjusted basis in October-December.

For the full year, the economy contracted 5.8%.

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