Singapore's economy expanded by 5% year over year during the fourth quarter of 2024, surpassing a median forecast of 3.1%, according to data release by the Monetary Authority of Singapore on Wednesday.

Respondents project the economy to grow by 3.8% during the first quarter of the current year.

Meanwhile, respondents have forecasted a GDP growth of 2.6%, while median forecast of GDP growth for 2026 is 2.3%.