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Singapore’s GDP forecast to grow 3.2 percent in 2018

The Monetary Authority of Singapore (MAS) – the central bank - said on March 14 that economists have raised their forecasts for the country’s economic growth in 2018, as they upgraded their views on private consumption as well as wholesale and retail trade.
Singapore’s GDP forecast to grow 3.2 percent in 2018 ảnh 1The Monetary Authority of Singapore (MAS) – the central bank - said on March 14 that economists have raised their forecasts for the country’s economic growth in 2018 (Photo: AFP/VNA)

Hanoi (VNA) – The Monetary Authority of Singapore (MAS) – the central bank -said on March 14 that economists have raised their forecasts for the country’seconomic growth in 2018, as they upgraded their views on private consumption aswell as wholesale and retail trade.

Singapore’s grossdomestic product (GDP) is expected to grow 3.2 percent this year, according tothe median forecast of 24 economists surveyed by the MAS, up from the 3.0percent median forecast in the previous MAS survey published in December 2017.

That would be close tothe upper end of the government’s forecast range. The Ministry of Trade andIndustry has said that its central view is for GDP growth in 2018 to come inslightly above the middle of its forecast range of 1.5 to 3.5 percent.

The surveyshowed that economists lowered their view on manufacturing to 4.3 percentgrowth in 2018, down from the previous median forecast of 5.5 percent. Theyalso trimmed their view on non-oil domestic exports to 5.5 percent growth from5.8 percent previously.

The central bank’s latestsurvey also showed that the economists expected Singapore’s GDP to grow 3.8percent year-on-year in the first quarter, up from the 3.4 percent medianforecast in the previous survey.-VNA

VNA
#Monetary Authority of Singapore (MAS)#economic growth forecasts#Singapore’s gross domestic product#non-oil domestic exports#vietnamplus#Vietnam News Agency
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