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Economy News

Singapore's growth forcast for 2018 kept at 3.2 pct

Economists and analysts polled in the survey of professional forecasters kept their forecast for Singapore's 2018 economic growth at 3.2 percent, according to the survey result issued by the Monetary Authority of Singapore (MAS) on Wednesday.

They forecast that Singapore's economic growth for 2019 will stand at 2.8 percent, which is unchanged from the previous survey that was released in March.

As reflected by the mean probability distribution, the survey respondents, on average, estimate between 3 and 3.4 percent to be the most likely growth outcome for the Singapore economy this year, and between 2.5 and 2.9 percent for the economy next year, according to the survey result.

The survey also shows that median CPI-All Items inflation for 2018 as a whole is forecast to be 0.8 percent, down from 1 percent in the March survey.

The forecast for MAS Core inflation in 2018 remains at 1.6 percent. For 2019, the median CPI-All Items inflation is forecast to be 1.5 percent, and the forecast for MAS Core inflation will reach 1.8 percent.

The survey result says trade protectionism continue to dominate the list of potential downsides for Singapore's economy, as 84 percent respondents expect the escalation of trade frictions to present a significant downside risk.
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