Singapore Economic Outlook
October 16, 2018Economic growth in the third quarter was relatively restrained in comparison to the second quarter’s solid performance. The manufacturing sector experienced a marked slowdown, while activity in the construction sector slumped for the ninth consecutive quarter. While growth in the services sector was stable, other indicators from the quarter corroborate the deceleration. Industrial production slowed to the lowest growth rate this year in August as output in the electronics, biomedical manufacturing, and chemicals sectors softened. Moreover, the manufacturing and electronics PMIs both ticked down in September, while a high base effect in the coming months—combined with the maturing of the global electronics cycle—suggests growth in the manufacturing sector will likely slow further in Q4. On a more positive note, annual growth in tourist arrivals picked up in August, while retail sales—excluding motor vehicles—accelerated in the same month.
Singapore Economic GrowthThe economy is expected to lose steam in 2019 on the back of notably slower manufacturing growth. Domestic demand should buoy growth, however, supported by stronger consumer spending, thanks to a tight labor market and accelerating wage growth. The escalating trade spat between the U.S. and China and a resulting potential slowdown in global trade remain pivotal risks to the outlook given the highly open nature of the economy. Met the why particular panelists expect the economy to grow 2.6% in 2019, which is down 0.1 percentage points from last month’s estimate, and 2.5% 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||2.60||1.39 %||Oct 18|
|Exchange Rate||1.38||-0.01 %||Oct 18|
|Stock Market||3,070||0.18 %||Oct 18|
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
October 17, 2018
Non-oil domestic exports (NODX) increased 8.3% in annual terms in September, up from August’s 5.0% print, but falling short of market expectations of a stronger 11.1% expansion.
October 12, 2018
At its second biannual meeting of 2018 held on 12 October, the Monetary Authority of Singapore (MAS) decided to slightly increase the undisclosed slope of the rate of appreciation of the Singapore dollar nominal effective exchange rate (S$NEER) policy band.
Singapore: Economic growth cools to a two-year low in the third quarter; annual GDP growth in the second quarter revised upwards
October 12, 2018
According to an advanced estimate released on 12 October by the Ministry of Trade and Industry (MTI), the economy slowed in the third quarter on the back of weakness in goods-producing industries.
October 3, 2018
The manufacturing PMI produced by the Singapore Institute of Purchasing and Materials Management (SIPMM) ticked down to 52.4 in September from 52.6 in August, partly reversing August’s strong gains.
September 24, 2018
Consumer prices increased 0.4% over the previous month in August, contrasting July’s 0.1% fall.