Singapore Economic Outlook
October 17, 2017According to an advance release, economic growth soared in Q3 on the back of a remarkable quarter for the manufacturing sector. The upturn in the global electronic cycle was behind the surge in manufacturing production, and supported the strong expansion in exports registered in July and August. While solid external demand continued to underpin growth and the electronics cluster, the troubled property market drove down activity in the construction sector, weighing on growth. Nevertheless, there are signs that the real estate market could have bottomed out: In Q3, private home prices recorded their first quarter-on-quarter increase after 15 consecutive quarters of declines. The improvement in the housing market could also explain some of the newfound vigor in private consumption, reflected in August’s robust retail sales growth.
Singapore Economy Data
5 years of Singapore economic forecasts for more than 30 economic indicators.
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|Bond Yield||2.08||0.0 %||Oct 17|
|Exchange Rate||1.36||0.07 %||Oct 18|
|Stock Market||3,329||0.0 %||Oct 18|
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Singapore Economic Growth
October 17, 2017Next year the cyclical recovery in global trade should continue to sustain Singapore’s external sector, despite moderating. Moreover, fixed investment is expected to benefit from the government’s infrastructure spending and business-friendly policies. Nevertheless, lingering slack in the labor market could hold back household spending growth. The main risks to the outlook stem from the possibility of increased protectionism and higher financing costs. FocusEconomics panelists expect the economy to grow 2.5% in 2018, up 0.2 percentage points from last month, and 2.6% in 2019.
Singapore Economic News
October 13, 2017
At its second semi-annual meeting this year on 13 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 13, 2017
Economic growth accelerated in Q3, on the back of a surge in manufacturing activity.
October 3, 2017
The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) rose from 51.8 in August to 52.0 in September, marking its best result since April 2011.
September 26, 2017
In August, consumer prices grew 0.3% from the previous month, contrasting July’s 0.2% fall.
September 18, 2017
Non-oil domestic exports (NODX) jumped 17.0% in August, accelerating notably from July’s revised already strong 7.6% increase (previously reported: +8.4% year-on-year).