0821 GMT - Singapore's economy is set to make a solid recovery this year after a weak 2023, DBS economist Chua Han Teng says after final data confirmed a strong 3Q performance. Revised 3Q data was significantly better than advance estimates, reflecting broad-based improvement across the manufacturing, construction and services sectors, he says. External-oriented sectors performed better in the first three quarters of 2024 compared to 2023, Chua adds. DBS's baseline view is for a steady expansion in these sectors over the coming quarters amid resilient external demand even as risks are tilted to the downside. DBS raises its 2024 growth forecast to 3.8% from 3.5% and keeps its 2025 forecast at 2.8%.(amanda.lee@wsj.com)
(END) Dow Jones Newswires
November 22, 2024 03:22 ET (08:22 GMT)
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