Singapore's economy topped forecasts in 2022 but new risks growing

Singapore's economy grew faster that official forecasts in 2022 but slower activity in the fourth quarter points to significant risks ahead for the city-state in the new year as global demand weakens and inflationary pressures weigh. Singapore's economy grew 3.8% in 2022, preliminary data from the Ministry of Trade and Industry showed on Tuesday, beating government forecast for growth of 3.5% and down from 7.6% in 2021. Exports are likely to fall further if, as we expect, the global economy enters a recession in 2023," Capital Economics said. Singapore's economy grew faster that official forecasts in 2022 but slower activity in the fourth quarter points to significant risks ahead for the city-state in the new year as global demand weakens and inflationary pressures weigh. Exports are likely to fall further if, as we expect, the global economy enters a recession in 2023," Capital Economics said.