Singapore's economy expanded 5.7 percent in the second quarter of 2024, according to advance estimates, marking a slowdown from the 6.3 percent growth recorded in the first quarter.
The manufacturing sector was a significant driver of growth during the April to June period, expanding 12.2 percent compared with the same quarter a year earlier. This robust manufacturing performance helped support the overall economic expansion despite the quarterly deceleration.
The quarter-on-quarter slowdown reflects shifting economic momentum in the city-state, though growth remained in positive territory. The advance estimates provide initial indications of economic performance, with final figures typically released at a later date.
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