Economists’ 2024 growth forecast for Singapore rises to 2.6%, but manufacturing expectations fall: survey
Median forecasts for both headline and core inflation fall slightly, but most of those surveyed still expect no MAS moves this year
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PRIVATE-SECTOR economists’ median forecast for full-year 2024 growth rose to 2.6 per cent, from 2.4 per cent previously, in the latest quarterly survey of professional forecasters published by the Monetary Authority of Singapore (MAS) on Wednesday (Sep 11).
But the median forecast for 2025 growth was unchanged at 2.5 per cent.
The 2024 consensus upgrade was not a surprise, said OCBC chief economist Selena Ling. “While the manufacturing recovery has disappointed in terms of its fits and starts for the year to date, the services sector, (and especially the) finance and insurance and wholesale trade sectors, are more than (picking) up the slack.”
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