Sign up | Log in



Home  >>   Daily News  >>Singapore>>Economy>>Analysts cut 2016 growth forecast for Singapore economy to 1.9%: MAS survey
NEWS UPDATES Asean Affairs   17  March  2016  

Analysts cut 2016 growth forecast for Singapore economy to 1.9%: MAS survey

SINGAPORE: Analysts are less optimistic about Singapore’s economy, cutting their growth forecast for 2016 to 1.9 per cent from 2.2 per cent, according to the latest quarterly survey by the MAS.

That compares with the official Growth Domestic Product (GDP) forecast by the Ministry of Trade and Industry (MTI) of 1 per cent to 3 per cent growth.

Manufacturing is now expected to contract by 2.7 per cent, worse than the 1.2 per cent contraction forecast in the previous survey. The analysts are also more pessimistic about the finance and insurance sector, with 3.6 per cent growth forecast for 2016, down from the 5.9 per cent expansion predicted in the December survey.

However, the analysts are more optimistic about the construction sector, with 2.6 per cent growth forecast, up from 1.2 per cent in the previous survey.

Looking further ahead, the analysts expect GDP to expand by 2.5 per cent in 2017.

The analysts have also cut their expectations for 2016 inflation, with the Consumer Price Index-All Items expected to come in at -0.2 per cent. That compares with expectations of an increase of 0.5 per cent in the December survey.

Core inflation, which excludes accommodation and private road transport costs, is forecast at 0.8 per cent, down from the 1 per cent in the previous survey.

The official forecast for headline inflation this year is -1 per cent to 0 per cent, with core inflation expected to come in at 0.5 per cent to 1.5 per cent.

The survey collated the views of 24 analysts who closely monitor the Singapore economy.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories                           March 17, 2016 Subsribe Now !
• Duties on VN shrimp sent to US increased Subcribe: Asean Affairs Global Magazine

• High yield rice varieties will help Brunei attain self-sufficiency
• Indonesia's exports grow, but still not out of woods
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• Analysts cut 2016 growth forecast for Singapore economy to 1.9%: MAS survey
Trust issues may hamper RI financial inclusion campaign
Asean Analysis                   March 4, 2016
• Asean Analysis March 4, 2016
Aung San Suu Kyi Is Key to Further Unlocking of U.S. Sanctions against Myanmar
Advertise Your Brand

Asean Stock Watch  March 16, 2016
• Asean Stock Watch-March 16, 2016
The Biweekly Update
• The Biweekly Update March 4, 2016

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2017 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand