Big miss in Q2 GDP darkens technical recession clouds, raises odds of MAS easing: analysts
Add BT as a preferred sourceFiona Lam &
Ng Ren Jye
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IN the latest whammy to predictions, Singapore's economy in the second quarter slowed more than expected to near stalling speed based on Friday morning's flash estimates.
Year-on-year gross domestic product (GDP) growth looks set to ease to a flattish 0.1 per cent in the second quarter of 2019. This is the slowest quarterly growth since the throes of the Great Recession in mid-2009, when the economy shrank by 1.2 per cent. It is also sharply cooler than the 1.1 per cent expansion in the first three months, which was revised downwards by a smidgen from an earlier figure of 1.2 per cent.
Here are economists' quick takes on the GDP estimates:
OCBC Bank - Selena Ling, head of treasury research and strategy:
UOB - Alvin Liew, senior economist; and Peter Chia, senior FX strategist:
Maybank Kim Eng - analysts Chua Hak Bin and Lee Ju Ye:
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HSBC Global Research - Joseph Incalcaterra, chief Asean economist:
ING - Robert Camell, chief economist and head of research, Asia-Pacific; and Prakash Sakpal, economist, Asia:
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