20 Mar '17, 1am

Economists raise Singapore growth forecast for 2017: MAS survey: Economists have raised their forecasts for…

Economists have raised their forecasts for Singapore’s gross domestic product (GDP) growth in 2017, according to a survey by the Monetary Authority of Singapore (MAS) unveiled on Wednesday. The median forecast of 23 economists surveyed in mid-February pointed to a 2.3% GDP growth this year. This is an improvement from the 1.5% growth forecasted in the previous MAS survey published in December. Singapore’s economy recorded GDP growth of 2.0% in 2016. In particular, economists are now more bullish on growth in the manufacturing sector and non-oil domestic exports. The manufacturing sector is expected to expand by 4.5% in 2017, up from 1.1% in the previous survey. Economists now expect non-oil domestic exports to grow by 6.1% in 2017, up from the previous median forecast of 0.3% growth. In addition, economists in the latest survey say MAS’ core inflation gauge is likely to ri...

Full article: http://thefinance.sg/2017/03/20/economists-raise-singapor...

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