Singapore growth may get global lift after Q1 slowdown
MAS prognosis of economic outlook turns slightly more sanguine, but not all market economists agree
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
SINGAPORE'S central bank says the global economic outlook has "improved slightly" - which bodes well for the Singapore economy after growth slowed in the first quarter. Though the manufacturing-led slowdown was not as sharp as expected, some market economists remain less sanguine and at least two banks cut their 2015 growth forecasts following the data release.
Advance estimates from the Ministry of Trade and Industry (MTI) on Tuesday morning put Q1 GDP growth at an annualised 1.1 per cent quarter-on-quarter, after seasonal adjustments. This was slower than Q4 2014's 4.9 per cent growth but beat the market's meagre 0.1 per cent growth forecast. Compared to a year ago, growth remained at Q4 2014's pace of 2.1 per cent, also above the consensus estimate of 1.7 per cent.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
