Singapore slightly upgrades Q4 GDP, keeps 2022 forecast for growth at 3-5%

Singapore's economy expanded slightly more than initially estimated in the fourth quarter from a year ago, official data showed on Thursday, and the government kept its forecast for growth to come in at 3%-5% this year.

Gross domestic product (GDP) grew 6.1% year-on-year in the fourth quarter, the Ministry of Trade and Industry (MTI) said, slightly higher than the 5.9% growth in the government's advance estimate.

Analysts had expected a 6.2% increase, according to a Reuters poll.

For the full year, GDP grew 7.6% versus an initial 7.2% estimate and a 4.1% contraction in 2020.

On a quarter-on-quarter seasonally-adjusted basis, the economy expanded 2.3%