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South China Morning Post
South China Morning Post
AsiaPac · 41 mins ago
78◉ Centre
Singapore’s economy grows on back of AI boom, defying Iran war slowdown
78Quality
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AI Analysis
Quality 78/100
Partisan intensity 25/100
ObjectivePartisan
◉ Centre ✓ Fair headline

Singapore's economy grew faster than expected in Q1 2024, expanding 1% quarter-on-quarter as AI-driven growth in manufacturing and services offset higher crude oil prices.

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Singapore’s economy grows on back of AI boom, defying Iran war slowdown
Singapore’s economy expanded faster than expected in the first quarter as the global artificial-intelligence boom lifted the nation’s manufacturing and services, offsetting the drag from higher crude prices. Gross domestic product grew a seasonally adjusted 1 per cent in the three months through March from the previous quarter, the Ministry of Trade and Industry (MTI) said on Monday. That is well above the government’s advance estimate of a 0.3 per cent contraction and the median forecast of a..
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