Singapore Economic Forecast

Singapore Economic Outlook

September 19, 2017

The economy remains in good shape in Q3, after accelerating in the second quarter. A pick-up in external demand is fueling growth and supporting the important electronics cluster, as evidenced by the latest PMI reading and export data for the first two months of Q3. In July, industrial production registered an impressive jump mainly on the back of an expansion in electronics production and a surge in precision-engineering output. Some signs of improvement have also come from the troubled housing market. August data on private residential resale prices and volumes suggest the possibility of a recovery, while continued growth in retail sales could be a harbinger of strengthening household spending. On 14 September, Halimah Yacob, a member of the Malay minority, was sworn in as president, a largely ceremonial role.

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Singapore Facts

Bond Yield2.07-1.05 %Oct 13
Exchange Rate1.35-0.23 %Oct 13
Stock Market3,3190.49 %Oct 13

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Singapore Economic Growth

September 19, 2017

After two years of subdued growth, the economy should accelerate somewhat this year and broadly stay the course in 2018 thanks to recovering global demand. It is also expected to benefit from an expansive fiscal stance. Growth could nevertheless be hindered by increased global protectionism and possible further tightening by the Fed. Analysts expect the economy to grow 2.5% in 2017 and 2.3% in 2018, unchanged from last month’s forecast.

Singapore Economic News

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