Singapore Economic Outlook
April 16, 2019The economy posted the weakest expansion in Q1 year-on-year since the end of the Great Recession, as advance estimates showed the manufacturing sector tanked, sinking well below the average posted in 2018 on weaker precision engineering and electronics clusters. In contrast, the construction sector rebounded after 11 consecutive quarters of yoy declines, suggesting a stabilization in the real estate market, while the services sector gained speed. Although GDP by expenditure figures have yet to be released, annual retail sales in January and February recovered slightly compared to the Q4 average, indicating private consumption may have gained impetus in Q1. This follows a softer Q4 reading weighed on by notable slowdowns in household and government spending. On the political scene, Singapore and Malaysia resolved a recent spat on port boundary claims in mid-March, which should strengthen economic ties going forward.
Singapore Economic GrowthEconomic growth should be supported this year by a more expansionary fiscal stance, stronger investment and a tight labor market underpinning private consumption. However, momentum will still ebb notably compared to 2018, as trade protectionism, abating tech demand and ebbing global growth weigh on the external sector. Met the why particular panelists expect the economy to grow 2.5% in 2019, which is unchanged from last month’s estimate, and 2.5% again in 2020.
Singapore Economy Data
5 years of Singapore economic forecasts for more than 30 economic indicators.
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|Bond Yield||2.11||1.39 %||Apr 12|
|Exchange Rate||1.35||-0.01 %||Apr 12|
|Stock Market||3,332||0.18 %||Apr 12|
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Singapore Economic News
April 17, 2019
Non-oil domestic exports (NODX) decreased by 11.7% year-on-year in March, contrasting February’s short-lived 4.8% increase (previously reported: +4.9% year-on-year).
April 12, 2019
At its first biannual meeting of 2019 held on 12 April, the Monetary Authority of Singapore (MAS) maintained the undisclosed rate of appreciation of the Singapore dollar nominal effective exchange rate (S$NEER) policy band.
April 12, 2019
The economy flagged in the first quarter of the year due to a decline in the manufacturing sector, according to an advanced estimate released by the Ministry of Trade and Industry (MTI) on 12 April.
April 4, 2019
The manufacturing PMI produced by the Singapore Institute of Purchasing and Materials Management (SIPMM) edged up to 50.8 points in March from 50.4 points in February, marking the first uptick since August of last year.
March 25, 2019
Consumer prices increased 0.5% over the previous month in February, contrasting the 0.3% decline recorded in January.