Economists raise 2017 Singapore GDP growth forecast - RTRS

The latest survey by Monetary Authority of Singapore (MAS), as cited by Reuters, showed the following.

GDP growth in 2017 seen at 3.3% vs 2.5% previously.

Median 2018 GDP growth forecast 3.0% vs 2.5% previously.

Q4 GDP median growth forecast raised to 2.6% y/y from 1.8%.

Core inflation 2017 median view trimmed to 1.5% from 1.6%.

2018 core inflation forecast unchanged at 1.6%.

Economists upgraded their views on manufacturing and exports.

Manufacturing is expected to grow 10.6% in 2017, up from the previous median forecast of 6.6%.

Non-oil domestic exports were seen expanding 9.0%, up from 7.4% previously.

In November, the government also revised up its GDP growth forecast range for the whole of 2017 to 3.0 to 3.5%, from the previous projection of 2.0 to 3.0%.

The government expects the economy to grow 1.5 to 3.5% in 2018.

Economists estimated that the Singapore dollar will trade at S$1.340 per US dollar at the end of next year.