Singapore: Singapore trims 2016 growth forecast : What economists say

  • Aug 11, 2016

Singapore: Singapore trims 2016 growth forecast : What economists say

Thursday, 11 August 2016 – Singapore cut the top end of its 2016 growth forecast on Thursday (Aug 11) after the economy expanded less than previously estimated in the second quarter, underscoring a weakening global outlook.

The economy is now expected to grow by 1 to 2 per cent this year, from 1 to 3 per cent, the Ministry of Trade and Industry said. Here’s how economists reacted:

OCBC ECONOMIST SELENA LING MANTAINS HER FORECAST OF 1.8 PER CENT FULL-YEAR GROWTH

“We think the slowdown in the second half could be limited to around 1.5 per cent growth year-on-year from 2.1 per cent in the first half, even though there may be some downside risks in the third quarter given the brunt of the Brexit referendum could be felt in the financial markets and consumer confidence. Read More?