Fiscal Balance in Singapore
Singapore - Fiscal BalanceThe economy came to a near stand-still in the second quarter according to preliminary GDP data, dragged down by floundering manufacturing production amid the ongoing U.S.-China trade war and lackluster tech demand. Other data throughout the quarter points to a broad-based weakening. Both the manufacturing and electronics PMIs fell further into contractionary territory in June, driven mainly by declining output and new orders. Moreover, non-oil domestic exports posted the sharpest contraction in annual terms in over three years in May, owing to weaker global demand for tech amid swirling trade tensions. Similarly, retail sales fell again in May as consumers likely responded to greater international uncertainty, boding poorly for private consumption in the quarter. This follows a limp Q1, which was hit by a contraction in exports of goods and services, and only partially offset by an increase in private consumption growth.
Singapore - Fiscal Balance Data
|Fiscal Balance (% of GDP)||1.3||0.1||-1.0||1.4||2.3|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||1.92||1.39 %||Jul 11|
|Exchange Rate||1.36||-0.01 %||Jul 11|
|Stock Market||3,350||0.18 %||Jul 11|
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July 17, 2019
Non-oil domestic exports (NODX) plummeted 17.3% year-on-year in June, sharper than May’s 16.3% decline (previously reported: -15.9% year-on-year).
July 12, 2019
The economy screeched to an abrupt halt in the second quarter following the first quarter’s slowdown.
July 4, 2019
The manufacturing PMI produced by the Singapore Institute of Purchasing and Materials Management (SIPMM) ticked down to 49.6 points in June from 49.9 in May, posting the worst reading since July 2016.
June 24, 2019
Consumer prices increased 0.7% over the previous month in May, following the 0.3% decrease recorded in April.
June 17, 2019
Non-oil domestic exports (NODX) declined 15.9% year-on-year in May, significantly sharper than April’s 10.0% drop but slightly less than market analysts’ expectations of a 16.5% contraction.