{"id":777011373,"date":"2023-11-23T06:53:07","date_gmt":"2023-11-23T09:53:07","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777011373"},"modified":"2026-04-22T15:19:23","modified_gmt":"2026-04-22T18:19:23","slug":"singapore-gdp-up-1-1-in-q3","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/singapore-gdp-up-1-1-in-q3","title":{"rendered":"Singapore GDP up 1.1% in Q3"},"content":{"rendered":"\n<p>Singapore&#8217;s GDP growth was mainly driven by tourism and services.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Singapore.- Gross domestic product (GDP) in Singapore for the third quarter was up 1.1 per cent year-on-year. The growth was higher than initial estimates of 0.7 per cent.<\/p>\n\n\n\n<p>The improvement was mainly attributed to a resurgence in tourism and increased activity in the service sector. On quarter-on-quarter terms, GDP expanded by 1.4 per cent. However, authorities caution about potential risks to the economic outlook stemming from inflation and geopolitical factors.<\/p>\n\n\n\n<p>The Ministry of Trade &amp; Industry has adjusted its GDP growth projection for 2023 to 1 per cent, narrowing the earlier range of 0.5 per cent to 1.5 per cent. For 2024, the ministry anticipates GDP growth to range from 1 per cent to 3 per cent.\u00a0<\/p>\n\n\n\n<p><strong>Gabriel Lim<\/strong>, the permanent secretary of policy at the Ministry of Trade &amp; Industry, highlighted risks in the global economy.\u00a0According to Reuters, Lim said: &#8220;First, sticky core inflation in advanced economies could induce central banks to maintain current high-interest rates for longer.\u00a0<\/p>\n\n\n\n<p>&#8220;Second, an escalation or widening of the Israel-Hamas conflict or war in Ukraine could lead to renewed supply disruptions and commodity price shocks.&#8221;<\/p>\n\n\n\n<p><strong>See also:<\/strong>&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/singapores-october-visitor-arrivals-hit-1-13m\" rel=\"noreferrer noopener\">Singapore\u2019s October visitor arrivals hit 1.13m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Singapore&#8217;s GDP growth was mainly driven by tourism and services.<\/p>\n","protected":false},"author":176,"featured_media":17040,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Singapore's Gross Domestic Product (GDP) expanded by 1.1% year-on-year in Q3, surpassing initial estimates, primarily driven by a robust resurgence in tourism and increased activity within the service sector. The Ministry of Trade & Industry has adjusted its 2023 GDP growth projection to 1% and forecasts 1-3% for 2024, while cautioning against global economic headwinds such as persistent inflation and escalating geopolitical conflicts.","focusai_entities":"Gabriel Lim, Ministry of Trade & Industry, Reuters","focusai_location":"Singapore, Israel, Ukraine","focusai_target_profile":"ceo_executive (0.9), investor_analyst (0.9), operator_casino (0.8), supplier_vendor (0.75), journalist_researcher (0.85)","focusai_suggestions":[{"label":"IR Performance Impact?","query":"How might Singapore's revised GDP projections and the sustained tourism resurgence specifically influence the GGR and operational strategies of integrated resorts within the market?"},{"label":"Capital Market Outlook?","query":"What are the implications of persistent core inflation and escalating geopolitical instability on capital flows, foreign direct investment, and overall investment appetite within Singapore's financial and iGaming sectors?"}],"footnotes":""},"categories":[157,16333],"tags":[23907],"class_list":["post-777011373","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011373","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777011373"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011373\/revisions"}],"predecessor-version":[{"id":777040912,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011373\/revisions\/777040912"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17040"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777011373"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777011373"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777011373"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}