Analysts Raise Singapore's 2017 GDP Growth Forecast

A survey released by the Monetary Authority of Singapore on Wednesday said analysts have raised their forecast for economic growth in Singapore this year as they lift their perception of manufacturing and exports.

According to the median forecast of 23 analysts surveyed by the Monetary Authority of Singapore, Singapore's gross domestic product is expected to grow 3.3% this year, above the 2.5% median forecast of the HKMA's September survey.

 
In 2017, the manufacturing sector is expected to increase by 10.6% from the previous forecast of 6.6%. Non-oil domestic exports will expand by 9.0%, the previous forecast of an increase of 7.4%.

The latest survey by the HKMA also shows that analysts expect Singapore's GDP to grow by 3.0% in 2018, the previous estimate of 2.5%.

The latest survey from the HKMA raised its forecast of fourth-quarter GDP growth to 2.6% YoY, compared with an estimated 1.8% increase in the previous survey.

Singapore fourth quarter GDP data will be released in January.