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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
SingaporeSingapore GDP Growth Rate QoQ Adv climbed to 1.0% in Q3 2023
FMPQuarterlyReleased October 2023
Singapore GDP Growth Rate QoQ Adv climbed to 1.0% in Q3 2023, released October 2023, up 0.9% from June's 0.1% reading. The print exceeded the 0.5% consensus by 0.5%. GDP Growth Rate QoQ Adv has now risen for 3 consecutive months. GDP Growth Rate QoQ Adv is now the highest in 9 months.
Latest Release
1
Actual
0.5
Consensus
0.1
Previous
Median Absolute Error
±0.85 percentage points
across last 12 releases
Last Call
Oct 2023
Predicted: 0.5
Actual: 1
Error: -0.5
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/SGD | ▼ Inverse | −0.50 | FOREX | Bullish SGD | → View |
| AUD/USD | ▲ Direct | +0.35 | FOREX | Watch | → View |
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
GDP Growth Rate QoQ Adv (Singapore) was reported at 0.4% in July 2024. The reading rose from the previous value of 0.3%. This is classified as a medium-impact indicator released on a quarterly basis.
WHY IT MATTERS
The trailing three releases averaged 0.73%, up from the prior three at 0.2%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/SGD (Bullish SGD). A secondary relationship exists with AUD/USD, positively correlated (Watch). Over the last 12 releases, the Sigmacast model's median absolute error is 0.85%.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include CPI YoY (Jun 23).
Auto-generated from current model state · Refreshes on each release · Last update July 2024.
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GDP Growth Rate QoQ Adv - SG
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About GDP Growth Rate QoQ Adv — Singapore
DEFINITION
The GDP Growth Rate QoQ-Adv is a key financial indicator that measures the quarterly change in a country's gross domestic product (GDP). It provides valuable insights into the overall economic performance and growth of a nation, allowing investors and policymakers to make informed decisions. This advanced version of the GDP Growth Rate QoQ takes into account the latest data and economic trends, providing a more accurate and timely assessment of a country's economic health.
WHY THIS INDICATOR MATTERS
Aggregate growth figures anchor cyclical positioning across asset classes and inform fiscal and monetary policy debate. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released quarterly.
WHAT CHANGED THIS MONTH
Latest reading (Jan 2014): actual 0.1 %, consensus 0.2 %. Prior reading (Jan 2014): 0.1 %. Before that (Jan 2014): -2.7 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with USD/SGD (Bullish SGD, r=-0.50) — a useful reference for forex-focused traders.