The Republic’s economy is expected to grow by 3.3 per cent this year, according to a quarterly survey of economists released by the Monetary Authority of Singapore (MAS) on Wednesday (Sep 10).
The figure is down from the 3.8 per cent forecasted in the previous survey done three months ago, after gross domestic product (GDP) growth in the second quarter was lower than expected. GDP grew 2.4 per cent in the second quarter, lower than the median forecast of 3.3 per cent reported in the June survey.
The latest estimates are in line with the official growth forecast of 2.5 to 3.5 per cent, which was announced in August. This was a narrowing from the earlier range of 2 to 4 per cent.
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