Forecasters lower Singapore’s GDP growth prospect for 2019 to 2.1 pct

Xinhua News Agency | Jun 12, 2019 at 5:20 AM

SINGAPORE, June 12 (Xinhua) -- The Monetary Authority of Singapore (MAS) announced in a report on Wednesday that economists and analysts polled in the survey of professional forecasters expect Singapore's 2019 economic growth to come in at 2.1 percent.

That is lower than their previous forecast of 2.5 percent economic growth for 2019, which is showed in the survey report that the MAS released this March.

In a breakdown, the respondents expect Singapore's economy to grow by 1.6 percent, 2.2 percent and 2.9 percent, respectively, for the second, third and fourth quarter of this year.

As for inflation, they forecast that Singapore's Consumer Price Index (CPI) would grow by 0.9 percent in 2019, and the MAS Core Inflation, which excludes the costs of accommodation and private road transport, would hit 1.4 percent.

The economists and analysts also lowered Singapore's 2020 economic growth forecast from 2.4 percent to 2.3 percent, according to the latest survey report.

The MAS said this month's survey report reflects the views received from 22 respondents and does not represent MAS' views or forecasts.