Singapore Economic Outlook
October 18, 2016According to preliminary GDP data for Q3, Singapore’s economy contracted 4.1% over the previous quarter at a seasonally adjusted annualized rate, swinging from Q2’s 0.2% modest expansion. The significant reversal in growth came on the back of a broad-based deterioration in all sectors of the economy. In particular, manufacturing contracted sharply after growing slightly in Q2. Further bad news came from the real estate sector: in Q3 house prices fell for the twelfth consecutive quarter, a trend that will likely continue due to the large stock of unsold homes. Some potential positive signs came from the manufacturing PMI, which in September returned to expansionary territory for the first time since June 2015. The improvement, if sustained, could support overall growth going forward.
Singapore Economy Data
5 years of Singapore economic forecasts for more than 30 economic indicators.
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|Bond Yield||1.81||-1.09 %||Oct 26|
|Exchange Rate||1.39||0.09 %||Oct 26|
|Stock Market||2,829||-0.89 %||Oct 26|
Singapore Economic Growth
October 18, 2016Singapore’s economy will lose steam this year, dragged down by subdued domestic demand and weak external conditions. Further downward pressure on growth could be posed by tightening financial conditions. FocusEconomics panelists project that the economy will grow 1.7% in 2016, which is unchanged from last month’s forecast. For 2017, the panel sees economic growth picking up to 1.8%.
Singapore Economic News
October 24, 2016
In September, consumer prices stayed flat compared to the previous month, following the 0.5% increase recorded in August.
October 17, 2016
In September, non-oil domestic exports (NODX) dropped 4.8% from the same month last year, deteriorating from August’s flat result.
October 14, 2016
According to advanced estimates released by the Ministry of Trade and Industry on 14 October, GDP declined a sharp 4.1% in Q3 from the previous quarter at a seasonally adjusted annualized rate (SAAR), down from Q2’s revised 0.2% rise (previously reported: +0.3% quarter-on-quarter).
October 14, 2016
At its second scheduled semi-annual meeting of 2016, which took place on 14 October, the Monetary Authority of Singapore (MAS) decided to leave the rate of appreciation of the Singapore dollar nominal effective exchange rate (S$NEER) policy band unchanged at zero percent.
October 3, 2016
The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) picked up from 49.8 in August to a 15-month high of 50.1 in September.