Gross domestic product (GDP) expanded by 3.3 per cent in the three months ended June from the prior year, according to advance estimates from the Census and Statistics Department on July 31.
That is higher than a median estimate of 2.7 per cent and exceeded even the most bullish forecast among economists surveyed by Bloomberg News.
The data signals resilience in the region's financial hub after several years of pressure from the pandemic and high borrowing costs.
Increasing trade and capital flows from mainland China into the city have helped buoy growth so far in 2024.
The better-than-expected uptick may help the government achieve its full-year growth target of 2.5 per cent to 3.5 per cent. It followed strong first-quarter expansion that was revised up to 2.8 per cent from 2.7 per cent.
Denne historien er fra August 02, 2024-utgaven av The Straits Times.
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Denne historien er fra August 02, 2024-utgaven av The Straits Times.
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Weir moves from spinning wheels to spinning discs
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