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Upside surprise in Singapore’s Q3 GDP unlikely to last into Q4: economists

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Sharon See

Sharon See

Published Fri, Oct 14, 2022 · 06:54 PM
    • GDP in Q3 expanded 4.4 per cent year on year, but economists believe this is unlikely to be repeated in the coming quarters amid headwinds from tighter monetary conditions, high inflation and geopolitical tensions.
    • GDP in Q3 expanded 4.4 per cent year on year, but economists believe this is unlikely to be repeated in the coming quarters amid headwinds from tighter monetary conditions, high inflation and geopolitical tensions. PHOTO: AFP

    SINGAPORE’S third-quarter economic growth turned out to be more robust than expected, prompting several economists to upgrade their full-year growth outlook, even as they continue to warn of headwinds in Q4 and beyond.

    “The upside Q3 growth surprise implies an upgrade of our 2022 growth forecast from 3.3 per cent to 3.7 per cent, even assuming a further slowdown for Q4,” said OCBC chief economist Selena Ling.

    RHB senior economist Barnabas Gan also raised his outlook to 3.7 per cent, from 3.2 per cent, adding that he maintains his view for growth momentum to slow in Q4.

    Singapore economySingapore GDPSingapore manufacturing

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