Investment in Singapore
Singapore - Investment
GDP rebounds in quarter-on-quarter terms in Q3
The economy expanded 1.5% in seasonally adjusted quarter-on-quarter terms in Q3, bouncing back from the 0.2% contraction recorded in the prior quarter and beating market expectations. Meanwhile, the economy expanded 4.4% year on year in the third quarter, decelerating from Q2’s 4.5% growth.
This rebound in qoq growth was led by turnarounds in the construction and services sectors. Output in the services sector expanded 2.5% in Q3 (Q2: -0.2% qoq), with activity benefitting from the further loosening of Covid-19 restrictions at home and abroad. This was reflected in the gains recorded in the retail trade and transportation sectors. Meanwhile, growth in the construction sector sped up to 3.9% in Q3 from 1.5% in the prior quarter, underpinned by the easing of border restrictions on the inflow of migrant workers. On the flip side, production in the manufacturing sector contracted 3.3% in Q3, swinging from a 0.4% increase in Q2, seemingly due to the impact of high production costs amid a challenging geopolitical backdrop.
Commenting on the outlook, analysts at UOB stated:
“With the external environment under significant challenges due to the Russia-Ukraine conflict, ongoing policy tightening by major central banks and risks of recession in advanced economies, domestic services sector will play an increasingly important role in the quarters ahead.”
FocusEconomics Consensus Forecast panelists see the economy expanding 4.1% in 2022, which is up 0.1 percentage points from the previous month’s forecast, and growing 3.3% in 2023.
Singapore - Investment Data
|Investment (annual variation in %)||2.0||1.5||4.2||-3.4||-0.2|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||1.74||1.39 %||Dec 31|
|Exchange Rate||1.34||-0.01 %||Jan 01|
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November 7, 2022
Inflation came in at 7.5% in September, matching August’s figure, which had marked the highest inflation rate since June 2008.
October 20, 2022
Non-oil domestic exports (NODX) rose 3.1% on an annual basis in September, on the heels of August’s 11.4% jump.
October 17, 2022
At its meeting on 14 October, the Monetary Authority of Singapore (MAS) re-centered the policy band of the Singapore dollar’s nominal effective exchange rate (S$NEER) to its prevailing level.
October 17, 2022
The economy expanded 1.5% in seasonally adjusted quarter-on-quarter terms in Q3, bouncing back from the 0.2% contraction recorded in the prior quarter and beating market expectations.
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Inflation came in at 7.5% in August, up from July’s 7.0%.