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

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.