Business

Singapores 2019 growth forecast raised to 0.7%: MAS survey

SINGAPORE: The Singapore economy is expected to grow 0.7 per cent this year, according to private-sector economists polled in a quarterly survey by the Monetary Authority of Singapore (MAS) on Wednesday (Dec 11).

This forecast is higher than the 0.6 per cent growth forecast in the previous survey.

Advertisement Advertisement

READ: Worst may be over for Singapore economy but recovery will be sluggish, say experts

READ: MAS sees 'fits and starts' for Singapore economy ahead with uneven growth across industries

The revised forecast came after the economy grew by 0.5 per cent in the third quarter, higher than the 0.3 per cent projected by respondents in the previous survey.

The manufacturing sector is now expected to contract 1.4 per cent, moderating from the predicted 2.4 per cent decline in the previous estimate.

Advertisement Advertisement

The outlook was also pessimistic for the wholesale and retail trade sector, from -2.8 per cent to -3 per cent.

In contrast, the finance and insurance industry is expected to post growth of 4.1 per cent, a slight drop from the 4.3 per cent growth predicted previously.

Economists also expect the construction sector to expand by 2.8 per cent, up from the 2.7 per cent growth predicted in the last survey.

They also forecast that growth in the accommodation and food services secRead More – Source

Related Posts