Singapore, 12 July 2024 - The Gross Domestic Product (GDP) of Singapore saw a minor increase in the second quarter of 2024, moving up to 0.4% from the previous quarter's growth of 0.3%. The data released today indicates a slight improvement in the nation's economic expansion, continuing the modest upward trend observed this year.
The quarter-over-quarter comparison highlights the incremental progress in the economy, as the 0.4% growth represents a marginal yet significant boost from the last quarter’s performance. The prior period had seen GDP growth halt at 0.3%, marking an improvement from earlier periods of stagnant or lower growth.
Economists view this marginal increase as a positive indicator of gradual recovery and stability in the nation’s economic climate. Observers will be keenly watching subsequent quarters to see if these modest gains can build into a more robust recovery.
