Singapore Economic Outlook
June 21, 2022
First-quarter GDP growth was revised upwards to 3.7% from a preliminary reading of 3.4%. Manufacturing growth was stronger than previously estimated, while robust private consumption was supported by the reopening of the economy. Moving to the second quarter, the economy seems to be performing solidly. Industrial production expanded at a robust pace in April, supported by the transport engineering sector. Moreover, in April and May the manufacturing and electronics PMIs remained in expansionary territory. On the downside, export growth cooled in April, weighed down by Covid-19 lockdowns in China, although it regained traction in May. Meanwhile, the IMF concluded its Article IV Mission in late May, praising the government’s tightening monetary policy stance and prudent normalization of fiscal policy following its timely policy response to the pandemic.Singapore Economic Growth
GDP should expand at a healthy pace this year, as private consumption, fixed investment and manufacturing activity benefit from the removal of Covid-19 restrictions. That said, a weaker external environment will limit the pace of expansion. The main downside risks stem from supply chain disruptions due to China’s zero-covid strategy and high energy prices. FocusEconomics panelists project the economy to expand 3.8% in 2022, which is unchanged from last month, and to grow 2.9% in 2023.Singapore Economy Data
Sample Report
5 years of Singapore economic forecasts for more than 30 economic indicators.
Sample Report
Get a sample report showing our regional, country and commodities data and analysis.
Singapore Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.74 | 1.39 % | Dec 31 |
| Exchange Rate | 1.34 | -0.01 % | Jan 01 |
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Singapore Economic News
-
Singapore: Non-oil domestic exports slide in December
January 17, 2023
Non-oil domestic exports (NODX) plummeted 20.6% year-on-year in December, on the heels of November’s 14.7% fall and marking the third consecutive monthly contraction.
-
Singapore: Economy grows at softest pace since Q1 2021 in Q4
January 17, 2023
GDP growth slowed markedly to 2.2% year on year in the fourth quarter, from 4.2% in the third quarter.
-
Singapore: Manufacturing PMI decreases in December
January 1, 2023
The Singapore Institute of Purchasing and Materials Management (SIPMM) Manufacturing PMI came in at 49.7 in December, down from 49.8 in November.
-
Singapore: Inflation remains steady in November
December 23, 2022
Inflation held steady at October's 6.7% in November, the joint-lowest inflation rate since June.
-
Singapore: Manufacturing PMI increases in November
December 1, 2022
The Singapore Institute of Purchasing and Materials Management (SIPMM) Manufacturing PMI came in at 49.8 in November, up from October's 49.7.
© Copyright: 2023. | Singapore Economy | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed
