Singapore Economic Outlook
February 25, 2020GDP strengthened more than previously estimated in Q4 thanks to robust growth in the services and construction sectors. On the other hand, the downturn in the manufacturing sector intensified on a lingering global tech slump and protracted trade tensions. Moreover, GDP growth for the year as a whole fell to a one-decade low. Early 2020 data, meanwhile, sent mixed signals. In January, the manufacturing PMI rose to a nine-month high, while the electronics PMI returned to expansionary territory for the first time in 15 months. However, non-oil domestic exports contracted in the same month on the back of nosediving electronics exports, and the coronavirus outbreak will likely weigh on the external and manufacturing sectors in the months ahead. In the political arena, on 18 February the government presented an expansionary budget with the largest fiscal shortfall in a decade to boost the ailing economy.
Singapore Economic GrowthThe economy should firm this year on the back of a reviving manufacturing sector and fiscal stimulus. Domestic demand, moreover, should remain resilient on recovering fixed investment. Yet the balance of risks remains tilted to the downside amid a still-uncertain external backdrop, due to the coronavirus and lingering trade tensions. FocusEconomics panelists project the economy to grow 1.0% in 2020, which is down 0.5 percentage points from last month, and 2.2% in 2021.
Singapore Economy Data
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|Bond Yield||1.74||1.39 %||Dec 31|
|Exchange Rate||1.34||-0.01 %||Jan 01|
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Singapore Economic News
March 4, 2020
In February, Singapore’s private-sector business conditions worsened notably due to the coronavirus outbreak that has disrupted supply chains and global trade.
February 28, 2020
bet360备用网址Consumer prices fell 0.24% month-on-month in January, contrasting the 0.30% increase in December, on the back of cheaper prices for housing and utilities; recreation and culture; and education, which more than offset a rise in the price level of food and transport. Inflation, meanwhile, was stable at the prior month’s 0.8% in January, with the annual average inflation rate stable at December’s 0.6%.
Singapore: Economic growth revised up but remains muted in Q4; Government presents expansionary budget presents expansionary 2020 budget
February 17, 2020
Detailed national accounts showed that the economy grew at a stronger pace than previously estimated in Q4, with growth revised up to 1.0% year-on-year (previously reported: +0.8% year-on-year).
February 17, 2020
bet360备用网址Singapore’s external sector opened the new year on a weak footing, with non-oil domestic exports (NODX) contracting 3.3% year-on-year, swinging from the 2.4% expansion logged in December, which had marked the first expansion since February 2019.
February 4, 2020
Singapore’s private sector started the new year on a positive note, with the Purchasing Managers’ Index (PMI) produced by the Singapore Institute of Purchasing and Materials Management (SIPMM) signaling improving business conditions for both the manufacturing and electronics sectors for the first time in 15 months.