The economy of Singapore expanded a seasonally-adjusted annualized 3.0 percent quarter-on-quarter in the third quarter of 2018, well above the 1.0 percent final growth for the previous quarter but missing expectations of a 4.2 percent increase and well below the preliminary 4.7 percent print. It was the fastest expansion in four quarters, mainly nudged by a sharp rebound in construction (+5.1 percent vs -14.5 percent in Q2). Meantime, manufacturing expanded 3.0 percent (vs original 7.6 percent and vs 3.3 percent in Q2), whereas services grew 4.6 percent (vs original 6.3 percent and vs 0.3 percent in Q2). GDP Growth Rate in Singapore averaged 6.76 percent from 1975 until 2018, reaching an all time high of 36.60 percent in the first quarter of 2010 and a record low of -13.50 percent in the fourth quarter of 2008.
GDP Growth Rate in Singapore is expected to be 2.40 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 4.70 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.