Sign up | Log in



Home  >>   Daily News  >>Singapore>>Economy>>Economists cut 2016 Singapore growth, inflation forecasts
NEWS UPDATES Asean Affairs   18  March  2016  

Economists cut 2016 Singapore growth, inflation forecasts

ECONOMISTS lowered their forecasts for Singapore’s 2016 growth and inflation compared with three months ago, while downgrading their view on exports and manufacturing activity, a central bank survey showed on Wednesday.

The median forecast of 24 economists surveyed by the Monetary Authority of Singapore (MAS) was for gross domestic product (GDP) to grow 1.9 per cent in 2016, down from 2.2 per cent expected in the previous MAS survey published in December.

“As reflected by the mean probability distribution, the most likely outcome is for the Singapore economy to grow by between 1.0 to 1.9 per cent this year, below the 2.0 to 2.9 per cent range reported in the last survey,” the MAS said.

The government now expects full-year GDP growth of 1.0-3.0 per cent this year.

Economists’ median forecast for non-oil domestic exports was growth of 0.2 per cent for all of 2016, down from the previous forecast of a 1.5 per cent expansion.

The manufacturing sector was seen likely to shrink 2.7 per cent in 2016, worse than the previous median forecast of a 1.2 per cent contraction.

The MAS survey showed that economists expect GDP growth in the first quarter to come in at 1.6 per cent year-on-year, down from 1.8 per cent expected in the previous survey.

Singapore’s advance estimate of January-March GDP is due to be released in April.

In the fourth quarter of 2015, GDP expanded 1.8 per cent year-on-year, while expanding at an annualised 6.2 per cent from the previous quarter.

Economists also lowered their inflation forecasts for 2016, according to the median forecasts in the MAS survey.

The headline consumer inflation rate was seen at -0.2 per cent year-on-year in 2016, down from 0.5 per cent in the December survey.

MAS core inflation, the focus of monetary policy, was expected to come in at 0.8 per cent in 2016, down from 1.0 per cent expected in the previous survey.

In February, Singapore lowered its headline inflation forecast for 2016 to -1.0 per cent to 0.0 per cent after a collapse in global oil prices. The previous official forecast had been -0.5 per cent to 0.5 per cent.

The MAS, however, has kept its 2016 forecast for core inflation unchanged at 0.5 per cent to 1.5 per cent.

Economists expect the Singapore dollar to trade at S$1.45 against the US dollar at end-2016, the MAS survey showed.

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 18, 2016 Subsribe Now !
• Thai bourse market report for February 2016 Subcribe: Asean Affairs Global Magazine

• Economists cut 2016 Singapore growth, inflation forecasts
• Indonesia aims to attract more Australian real estate investment
Research Reports
on Thailand 2007-2008

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

• First Myanmar Investment to list first on Yangon Stock Exchange
Supreme investment planned for Cambodia
Asean Analysis                   March 18, 2016
• Asean Analysis March 18, 2016
Southeast Asia Dances to the Tune of Japan's Abe Doctrine
Advertise Your Brand

Asean Stock Watch  March 18, 2016
• Asean Stock Watch-March 18, 2016
The Biweekly Update
• The Biweekly Update March 18, 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

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand