Home/Newsfeed

Singapore Growth Downgraded Ahead of Budget

Share Print 0

Forecasters have slashed their growth expectations for Southeast Asia’s leading financial hub just a week before the government presents the 2016 budget.

Private economists polled by the Monetary Authority of Singapore (MAS), the city-state’s central bank, see gross domestic product (GDP) growth at 1.9 percent this year, down from a previous forecast of 2.2 percent in December and below last year’s reading of 2 percent.

2015 marked the weakest pace of growth since the economy contracted 1.3 percent in 2009, so if GDP growth does slip below 2 percent this year, it will mark a new seven-year low.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam

@@craig_forex

Craig Erlam

Latest posts by Craig Erlam (see all)

,
Back to Top