Singapore Economic Outlook
December 13, 2018Revised data showed growth mellowed markedly in the third quarter and by more than previously reported, on weaker-than-previously-estimated growth in the manufacturing and services sectors. However, the contraction in the construction sector was smaller than initially announced. Looking at Q4, PMI data for October and November illustrates further softening in the manufacturing sector as new orders and employment gravitate closer to negative territory, while the electronics sector contracted in November. Nevertheless, non-oil domestic export growth ticked up in October—albeit thanks to the volatile pharmaceutical subsector. On the political front, tensions with neighbor Malaysia are escalating due to a dispute over maritime boundaries. However, there is unlikely to be a noticeable economic impact and mutual economic interests will likely stop the disagreement escalating too much further.
Singapore Economic GrowthAnnual growth is set to slow in 2019 but should remain robust thanks to a strong service sector and higher wage pressures which should lift domestic demand. However, trade protectionism and depressed Chinese import demand will likely weigh on exports and investment, while residential investment will remain weak. Met the why particular panelists expect the economy to grow 2.6% in 2019, which is unchanged from last month’s estimate, and 2.4% in 2020.
Singapore Economy Data
5 years of Singapore economic forecasts for more than 30 economic indicators.
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
|Bond Yield||2.23||1.39 %||Dec 14|
|Exchange Rate||1.38||-0.01 %||Dec 14|
|Stock Market||3,077||0.18 %||Dec 14|
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Singapore Economic News
Singapore: Manufacturing PMI falls to over one-year low in November; electronics PMI dips into contractionary territory
December 4, 2018
The manufacturing PMI produced by the Singapore Institute of Purchasing and Materials Management (SIPMM) edged down to 51.5 points in November from 51.9 points in October, marking the weakest performance in over one year.
November 23, 2018
Consumer prices fell 0.3% over the prior month in October, following a flat reading in September.
November 23, 2018
A comprehensive estimate by the Ministry of Trade and Industry (MTI) released on 23 November revealed GDP growth was much weaker than previously estimated.
November 16, 2018
Non-oil domestic exports (NODX) increased 8.3% year-on-year in October, up from September’s downwardly revised 8.1% expansion (previously reported: +8.3% year-on-year) and handsomely above market expectations of a tepid 1.0% expansion.
Singapore: Manufacturing PMI dips to an over one-year low in October, weighed on by Sino-American trade tensions
November 2, 2018
The manufacturing PMI produced by the Singapore Institute of Purchasing and Materials Management (SIPMM) ticked down to 51.9 points in October from 52.4 in September, which was the weakest print since August 2017.