Singapore economy grows 4.4% in Q3 as construction, tourism continue to rebound: MTI

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SINGAPORE — The Singapore economy grew by 4.4 per cent in the third quarter of the year from the same period a year ago, supported by continued strong growth in the construction and services sectors, advance estimates from the Ministry of Trade and Industry show.

The 4.4 per cent growth is a slight easing from the 4.5 per cent year-on-year growth recorded in the previous quarter.

Both public and private construction output picked up during the quarter, supported in part by the easing of border restrictions on the inflow of migrant workers. This was faster than the 2.9 per cent year-on-year growth that these sectors recorded in the previous quarter. The remaining group of services sectors — accommodation and food services, real estate, administrative and support services and other services sectors — grew by 9.2 per cent year-on-year in the third quarter, faster than the 7.6 per cent growth in the previous quarter.

 

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