The economy of Singapore grew 2.0 percent on a quarter-on-quarter seasonally-adjusted annualised basis in the three months to March 2019, gaining steam from an unchanged 1.4 percent expansion in the previous period and beating market consensus of 1.2 percent, advanced data showed. Growth was led by construction, up 7.8 percent from 5.1 percent in the previous three months and by services, up 4.8 percent from 2.8 percent. In contrast, manufacturing shrank a sharp 12.0 percent. GDP Growth Rate in Singapore averaged 6.72 percent from 1975 until 2019, reaching an all time high of 36.10 percent in the first quarter of 2010 and a record low of -13.40 percent in the fourth quarter of 2008.
GDP Growth Rate in Singapore is expected to be 2.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Singapore to stand at 1.50 in 12 months time. In the long-term, the Singapore GDP Growth Rate is projected to trend around 3.70 percent in 2020, according to our econometric models.