Silver linings in economy amid weak sentiment
Economists see Singapore's outlook brightening in H2; they identify construction and services as the sectors that are likely to post stronger growth
Janice Heng
Singapore
THE indicators have not been painting a rosy picture of Singapore's economy, but the worst might soon be over, said economists, expecting some recovery in this year's second half. As Mizuho Bank head of economics and strategy for Asia and Oceania Vishnu Varathan put it: "The 'half-full' version of the lacklustre economy is that Singapore's economy is close to bottoming, if not already bottomed."
The twice-yearly Macroeconomic Review by the Monetary Authority of Singapore (MAS) on Friday noted that after several quarters of above-potential growth, the economy saw "a step-down in growth" in Q4 2018 and Q1 2019. Flash figures for the first quarter put gross domestic product (GDP) growth at 1.3 per cent, the slowest rate in a decade and the fifth straight quarter of easing growth.
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