Overview

• Singapore's economy showed a strong recovery in Q3 2024, with GDP growth at 4.1%, surpassing pre-pandemic levels.
• The manufacturing sector, especially electronics, and increased financial trading activity were key contributors to the economic rebound.
• The return of Chinese tourists significantly boosted the tourism-related sectors, enhancing economic performance.
• The Monetary Authority of Singapore expects core inflation to ease, projecting it to average between 1.5% and 2.5% in 2025.
• Potential risks to growth include geopolitical tensions, the U.S. presidential election, and a possible slowdown in China.