{"id":108058,"date":"2019-06-13T09:35:08","date_gmt":"2019-06-13T02:35:08","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/economists-lower-growth-forecast-for-singapore-again-mas-survey\/"},"modified":"2019-06-13T10:08:02","modified_gmt":"2019-06-13T03:08:02","slug":"economists-lower-growth-forecast-for-singapore-again-mas-survey","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/economists-lower-growth-forecast-for-singapore-again-mas-survey\/","title":{"rendered":"Economists lower growth forecast for Singapore again, MAS survey"},"content":{"rendered":"


\nThe pessimistic outlook comes as the economy grew 1.2 percent in the first quarter of 2019, which was significantly lower compared to the 1.9 percent forecast in the March survey.
\nEconomists have once again lowered their growth forecast for Singapore to 2.1 percent, down from their earlier forecast of 2.5 percent, showed the Monetary Authority of Singapore\u2019s (MAS) latest survey of professional forecasters.
\n\u201cAs reflected by the mean probability distribution, the most likely outcome is for the Singapore economy to grow by between 2.0 and 2.4 percent this year,\u201d said MAS.
\nMedian forecasts for all macroeconomic indicators, except construction, were lower, showed the survey.
\nThe construction sector is expected to increase 3.5 percent, up from 2.1 percent in the previous survey.
\nThe manufacturing sector, on the other hand, is anticipated to shrink by 0.2 percent, compared to a two percent growth in the March survey.
\nGrowth forecast for wholesale and retail trade as well as non-oil domestic exports also hovered on negative territory at -0.3 percent and -2.1 percent from 1.5 percent and 1.1 percent, respectively.
\n\u201cReflecting recent developments in US-China relations, concerns about escalating global trade protectionism continue to dominate the list of potential downside risks.\u201d
\nMAS noted that 94.1 percent of respondents point to an escalation in trade frictions as a downside risk.
\nAlso included in the top three downside scenarios are slowdown in China, which was cited by 53 percent of respondents, and global economic downturn, indicated by 29.4 percent of respondents, up from 5.3 percent in the previous survey.
\nMeanwhile, 70.6 percent of respondents considered the easing of trade tensions between the US and China as an upside risk to their forecasts.
\nRespondents expect Singapore\u2019s economy to pick up to 2.3 percent in 2020, unchanged from the March survey.
\nCan you afford a condo in Singapore? Check your\u00a0affordability\u00a0now.\u00a0Get more details on the\u00a0property market outlook for 2019
\nFiona Ho, Digital Content Manager at PropertyGuru, edited this story. To contact her about this or other stories, email\u00a0fiona@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Economists lower growth forecast for Singapore again, MAS survey<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The pessimistic outlook comes as the economy grew 1.2 percent in the first quarter of...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-108058","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-s6S","jetpack-related-posts":[{"id":110503,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/2019-growth-forecast-for-singapores-economy-slashed-to-0-6\/","url_meta":{"origin":108058,"position":0},"title":"2019 growth forecast for Singapore\u2019s economy slashed to 0.6%","date":"September 5, 2019","format":false,"excerpt":"\r The economists expects year-on-year growth to come in at 0.3 percent in the third quarter, citing escalating US-China trade tensions as well as further slowdown in China as top concerns. Private-sector economists expect Singapore\u2019s economy to grow by 0.6 percent this year, way lower from an earlier forecast of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":113029,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-growth-forecast-raised-to-0-7-survey\/","url_meta":{"origin":108058,"position":1},"title":"Singapore's growth forecast raised to 0.7%: Survey","date":"December 12, 2019","format":false,"excerpt":"\r This is 0.1% higher compared to the previous survey.\u00a0 Private-sector economists have raised Singapore\u2019s growth forecast to 0.7% this year, 0.1% higher compared to the previous 0.6% growth in the previous survey, according to the latest quarterly survey conducted by the Monetary Authority of Singapore (MAS) on 11 December.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":113367,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-posts-slowest-economy-expansion-since-2009\/","url_meta":{"origin":108058,"position":2},"title":"Singapore posts slowest economy expansion since 2009","date":"January 3, 2020","format":false,"excerpt":"\r Singapore economy expanded by 0.7% in 2019, which is significantly lower than the 3.1% growth recorded in 2018.\u00a0 Singapore\u2019s economy experienced the slowest growth in a decade last year, growing by a marginal 0.7%. This pales in comparison to the 3.1% growth recorded in 2018, reported Channel News Asia,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":74596,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-economy-to-grow-3-3-this-year\/","url_meta":{"origin":108058,"position":3},"title":"Singapore economy to grow 3.3% this year","date":"December 15, 2017","format":false,"excerpt":"\r The Monetary Authority of Singapore\u2019s (MAS) survey showed that analysts expect Singapore\u2019s economy to grow 3.3 percent year-on-year in 2017, up from the earlier forecast of 2.5 year-on-year in September, reported Singapore Business Review. In terms of indicators, analysts were more bullish on the manufacturing sector which is expected\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":107367,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-narrows-gdp-growth-forecast-for-2019\/","url_meta":{"origin":108058,"position":4},"title":"Singapore narrows GDP growth forecast for 2019","date":"May 22, 2019","format":false,"excerpt":"\r The construction sector grew by 2.9 percent year-on-year in Q1 2019.\u00a0 With growth in most regional economies expected to moderate this year, the Ministry of Trade and Industry (MTI) narrowed its gross domestic product (GDP) forecast for 2019 to \u201c1.5 to 2.5 percent\u201d from \u201c1.5 to 3.5 percent\u201d previously.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":115192,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mti-downgrades-2020-growth-forecast-as-q1-gdp-fell-by-2-2\/","url_meta":{"origin":108058,"position":5},"title":"MTI downgrades 2020 growth forecast as Q1 GDP fell by 2.2%","date":"March 27, 2020","format":false,"excerpt":"\r The revised growth forecast comes as MTI\u2019s advanced estimates showed that the economy contracted 2.2% year-on-year during the first quarter of 2020. The Ministry of Trade and Industry (MTI) has downgraded its 2020 GDP forecast to between -4% and -1% \u2013 a fall from the -0.5% to 1.5% range\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/108058"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=108058"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/108058\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=108058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=108058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=108058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}