{"id":7811,"date":"2023-04-14T13:27:13","date_gmt":"2023-04-14T05:27:13","guid":{"rendered":"https:\/\/daily.sg\/?p=7811"},"modified":"2023-04-15T10:59:41","modified_gmt":"2023-04-15T02:59:41","slug":"gdp-singapore-2023-slow-growth-still-kicking","status":"publish","type":"post","link":"https:\/\/daily.sg\/2023\/04\/gdp-singapore-2023-slow-growth-still-kicking\/","title":{"rendered":"GDP Singapore 2023 &#8211; Slow Growth but Still Kicking!"},"content":{"rendered":"\n<ul>\n<li><strong>Singapore\u2019s GDP grew by 0.1% in Q1 2023<\/strong><\/li>\n\n\n\n<li><strong>The manufacturing sector contracted by 6.0%<\/strong><\/li>\n\n\n\n<li><strong>The construction sector is still growing strong at 8.5%<\/strong><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"ast-oembed-container \" style=\"height: 100%;\"><iframe loading=\"lazy\" title=\"GDP Singapore 2023 Slow Growth but Still Kicking (Apr 14 2023)\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/EEaqvWRVHSY?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/div><\/figure>\n\n\n\n<p>Today we are talking about GDP Singapore 2023 based on advance estimates.<\/p>\n\n\n\n<p>You know, the money stuff that shows how our country is doing.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">First Quarter of 2023 GDP<\/h2>\n\n\n\n<p>Q1 2023 could be better.<\/p>\n\n\n\n<p>Our GDP grew only by 0.1% year-on-year.<\/p>\n\n\n\n<p>Last time, in Q4 2022, it grew by 2.1%.<\/p>\n\n\n\n<p>But not too bad. It still got growth.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Manufacturing Sector<\/h2>\n\n\n\n<p>This one could be better.<\/p>\n\n\n\n<p>The manufacturing sector contracted by 6.0%.<\/p>\n\n\n\n<p>All the clusters are not doing well, except transport engineering.<\/p>\n\n\n\n<p>It went down by 5.2% quarter-on-quarter. Like that, how?<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Construction Sector<\/h2>\n\n\n\n<p>The construction sector is alright.<\/p>\n\n\n\n<p>It grew by 8.5% year-on-year.<\/p>\n\n\n\n<p>Both public and private sector construction are doing good.<\/p>\n\n\n\n<p>But, still not as good as the pre-pandemic level. We got room to improve.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Services Sectors<\/h2>\n\n\n\n<p>Some good, some bad.<\/p>\n\n\n\n<p>Wholesale &amp; retail trade and transportation &amp; storage went down by 1.1%.<\/p>\n\n\n\n<p>Info &amp; comms, finance &amp; insurance, and professional services grew by 1.9%.<\/p>\n\n\n\n<p>The last group of sectors, like accommodation &amp; food services, real estate and all, grew by 6.7%.<\/p>\n\n\n\n<p>There\u2019s hope!<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Actionable and Practical Takeaways<\/h2>\n\n\n\n<ul>\n<li>Keep an eye on <a href=\"https:\/\/www.singstat.gov.sg\/modules\/infographics\/economy\" target=\"_blank\" rel=\"noopener\" title=\"\">Singapore\u2019s GDP<\/a>. Anything can happen<\/li>\n\n\n\n<li>Consider investing in growing sectors, like construction<\/li>\n\n\n\n<li>Be prepared for ups and downs, especially during uncertain times<\/li>\n<\/ul>\n\n\n\n<p>So there you have it.<\/p>\n\n\n\n<p>Our GDP is not so steady now (based on preliminary estimates), but it still got growth.<\/p>\n\n\n\n<p>Can survive one lah.<\/p>\n\n\n\n<p><em>What do you all think? How can we make our economy better? Let us know in the comments below!<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In Q1 2023, Singapore&#8217;s GDP saw slow growth of 0.1%. Dive into the details and find out what&#8217;s happening in various sectors!<\/p>\n","protected":false},"author":8,"featured_media":7814,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[15,437],"tags":[881,880,878,879,747],"_links":{"self":[{"href":"https:\/\/daily.sg\/wp-json\/wp\/v2\/posts\/7811"}],"collection":[{"href":"https:\/\/daily.sg\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/daily.sg\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/daily.sg\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/daily.sg\/wp-json\/wp\/v2\/comments?post=7811"}],"version-history":[{"count":5,"href":"https:\/\/daily.sg\/wp-json\/wp\/v2\/posts\/7811\/revisions"}],"predecessor-version":[{"id":7859,"href":"https:\/\/daily.sg\/wp-json\/wp\/v2\/posts\/7811\/revisions\/7859"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/daily.sg\/wp-json\/wp\/v2\/media\/7814"}],"wp:attachment":[{"href":"https:\/\/daily.sg\/wp-json\/wp\/v2\/media?parent=7811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/daily.sg\/wp-json\/wp\/v2\/categories?post=7811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/daily.sg\/wp-json\/wp\/v2\/tags?post=7811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}