Current Account in Singapore
Singapore - Current AccountThe economy seemingly got off to a slow start this year, with the manufacturing PMI moderating for the fifth consecutive month in January on the back of a broad-based slowdown. However, the reading remained in expansionary territory, which indicates a continued improvement in business conditions. Meanwhile, annualized non-oil domestic exports contracted notably in January as both the electronics and non-electronics sectors declined. Moreover, firms in the services sector expect conditions to become less favourable in the first half of this year according to a recent business expectations survey. This follows a fourth quarter during which economic growth decelerated on a moderation in growth in the manufacturing and services sectors, according to revised estimates. On the political front, the government unveiled its expansionary budget for fiscal year 2019 on 18 February, which will see extra spending on health and defense and should support the economy this year.
Singapore - Current Account Data
|Current Account (% of GDP)||16.5||18.7||18.6||19.1||18.8|
5 years of economic forecasts for more than 30 economic indicators.
Singapore Current Account Chart
Source: Singapore Ministry of Trade and Industry and FocusEconomics calculations.
|Bond Yield||2.19||1.39 %||Mar 11|
|Exchange Rate||1.36||-0.01 %||Mar 11|
|Stock Market||3,191||0.18 %||Mar 11|
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March 4, 2019
The manufacturing PMI produced by the Singapore Institute of Purchasing and Materials Management (SIPMM) fell to 50.4 points in February from 50.7 points in January, the lowest reading since December 2016.
February 25, 2019
Consumer prices fell 0.3% over the previous month in January, contrasting the 0.1% increase recorded in December.
February 15, 2019
Comprehensive national accounts data released on 15 February by Singstat showed that the economy slowed by more than previously estimated in the final quarter.
February 5, 2019
The manufacturing PMI produced by the Singapore Institute of Purchasing and Materials Management (SIPMM) fell to 50.7 points in January from 51.1 points in December, the lowest reading since December 2016.
January 23, 2019
Consumer prices increased 0.1% over the previous month in December, edging down from the 0.2% uptick recorded in November.