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Economists’ Singapore growth forecast jumps for 2024, but only edges up for 2025: survey

Geopolitical tensions are increasingly seen as a downside risk

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Elysia Tan

Elysia Tan

Published Wed, Dec 11, 2024 · 12:00 PM — Updated Wed, Dec 11, 2024 · 05:22 PM
    • Official estimates place 2024 full-year growth at around 3.5%.
    • Official estimates place 2024 full-year growth at around 3.5%. PHOTO: BT FILE

    PRIVATE-SECTOR economists’ median forecast for full-year 2024 growth climbed significantly after the third quarter’s growth surprise – but 2025 growth only picked up slightly, based on the latest quarterly survey of professional forecasters published by the Monetary Authority of Singapore (MAS) on Wednesday (Dec 11).

    Their inflation expectations for both years were also lowered, compared with the previous quarter’s survey.

    The consensus forecast for gross domestic product growth this year rose to 3.6 per cent in December’s survey, from 2.6 per cent in the preceding poll. Manufacturing expectations, in particular, strengthened significantly.

    Singapore GDPSingapore inflationSingapore economyEconomic growthSingapore manufacturingSingapore services

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