Increased Optimism about Singapore Outlook

Economists have raised their full-year growth forecasts for Singapore, a survey by the central bank showed on Wednesday, reflecting increased optimism about the outlook for the city-state.

According to the Monetary Authority of Singapore’s (MAS) latest quarterly Survey of Professional Forecasters, analysts have raised Singapore’s median growth forecast to 2.9 percent for 2013, up from a previous estimate of 2.3 percent.

Singapore’s economy, heavily dependent on trade, manufacturing and financial services, grew 15.5 percent in the second quarter from the previous quarter, data released last month showed.


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