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Singapore final GDP seen confirming growth stalled in Q1

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Singapore's latest estimate of first-quarter gross domestic product is likely to confirm that growth stalled at the start of the year, underscoring the risks to Asia's trade-reliant economies from persistently sluggish global demand, a Reuters poll showed.

[SINGAPORE] Singapore's latest estimate of first-quarter gross domestic product is likely to confirm that growth stalled at the start of the year, underscoring the risks to Asia's trade-reliant economies from persistently sluggish global demand, a Reuters poll showed.

The median forecast in a Reuters survey of 11 economists predicted that gross domestic product (GDP) in the January-March quarter was likely unchanged from the previous quarter.

That would be the same as the government's advance estimate of 0.0 per cent growth in first-quarter GDP released on April 14.

On that same day, Singapore's central bank unexpectedly eased its exchange-rate based monetary policy, its third policy easing since January 2015, against a backdrop of low inflation and slowing economic growth.

The first-quarter economic survey of Singapore, which contains detailed breakdowns of growth by industry, is due to be released on Wednesday, May 25 at 8 am local time (0000 GMT).

Year-on-year GDP growth also is expected to stay unchanged from the advance estimate of 1.8 per cent, according to the median forecast in the Reuters survey.

REUTERS