{"id":111748,"date":"2019-10-21T12:11:01","date_gmt":"2019-10-21T05:11:01","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-economy-expected-to-have-0-5-growth-in-2019\/"},"modified":"2019-10-21T12:18:23","modified_gmt":"2019-10-21T05:18:23","slug":"singapores-economy-expected-to-have-0-5-growth-in-2019","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-economy-expected-to-have-0-5-growth-in-2019\/","title":{"rendered":"Singapore\u2019s economy expected to have 0.5% growth in 2019"},"content":{"rendered":"


\nMeanwhile, MAS expects global economic growth in 2019 to slow down \u201cdiscernibly\u201d and then stabilise in 2020 \u201cbarring further shocks\u201d.
\nSingapore\u2019s economy is expected to grow 0.5 percent in 2019, with the 2020 growth prediction being below consensus at one percent, reported Singapore Business Review citing Bank of America Merrill Lynch (BofAML) Global Research.
\nThe Monetary Authority of Singapore (MAS) believes the economy will improve modestly but below potential in 2020. Retail and manufacturing sector is seen to perform poorly, although finance & insurance, domestic-oriented services, construction and ICT may encounter continued expansion.
\nWith the authority\u2019s estimate that the output gap only turned slightly negative despite a steep fall in growth during the last few quarters, BoFAML said that this, however, points to potential growth being below the two to three official estimates.
\nMAS expects global economic growth in 2019 to slow down \u201cdiscernibly\u201d and then stabilise in 2020 \u201cbarring further shocks\u201d.
\nA Fitch Solutions report indicated that the economic growth is on course to slow to 0.9 percent by the end of 2019 after quarters of dismal economic showing in Q2.
\nThe economy grew 0.1 percent year-on-year (YoY) and 0.6 percent quarter-on-quarter (QoQ) SAAR in Q3, narrowly escaping a technical recession.
\nRELATED:\u00a02019 Growth Forecast For Singapore\u2019s Economy Slashed To 0.6%
\nBofAML also predicts MAS to further ease the appreciation rate of $NEER to a zero percent slope, in line with the forecast of UOB.
\n\u201cSuch a move will be consistent with two years of below-trend growth and below-target inflation, which could ultimately threaten medium-term price stability,\u201d said Merrill Lynch economist Mohammed Faiz Nagutha.
\nMeanwhile, manufacturing dropped 3.5 percent YoY, heavily influenced by electronics and precision engineering. Services grew 0.7 percent QoQ but dropped to 0.9 percent YoY, with sequential contraction in construction eased to dropping 1.1 percent QoQ and rose 2.7 percent YoY during the same period.
\nRead our handy\u00a0HDB Buying Guides\u00a0or find a home on PropertyGuru.\u00a0
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Singapore\u2019s economy expected to have 0.5% growth in 2019<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Meanwhile, MAS expects global economic growth in 2019 to slow down \u201cdiscernibly\u201d and then stabilise...<\/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-111748","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-t4o","jetpack-related-posts":[{"id":115018,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-economy-to-fall-by-0-5-this-year-dbs\/","url_meta":{"origin":111748,"position":0},"title":"Singapore\u2019s economy to fall by 0.5% this year \u2013 DBS","date":"March 20, 2020","format":false,"excerpt":"\r Total retrenchments are also expected to hit 24,500 this year.\u00a0 DBS Bank expects a 0.5% drop in Singapore\u2019s economy this year, instead of the 0.9% growth forecasted last month, reported The New Paper. DBS Bank Economist Irvin Seah explained that the downgraded forecast might come with further downside risks,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112512,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/economists-give-positive-adjustments-to-singapores-gdp-predictions\/","url_meta":{"origin":111748,"position":1},"title":"Economists give positive adjustments to Singapore\u2019s GDP predictions","date":"November 21, 2019","format":false,"excerpt":"\r This comes as a poll conducted by Reuters showed that the final gross domestic product in Singapore is expected to be higher than the government\u2019s advance estimates. Singapore\u2019s economy in the third quarter of 2019 is projected to have expanded much more than initially expected and will probably stabilise\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":111748,"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":110503,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/2019-growth-forecast-for-singapores-economy-slashed-to-0-6\/","url_meta":{"origin":111748,"position":3},"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":101572,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-q3-economic-growth-disappoints\/","url_meta":{"origin":111748,"position":4},"title":"Singapore Q3 economic growth disappoints","date":"November 23, 2018","format":false,"excerpt":"\r There are concerns that the recent property cooling measures could weigh down on the real estate and construction sectors. Singapore\u2019s gross domestic product (GDP) rose by 3.0 percent quarter-on-quarter on a seasonally-adjusted and annualised basis in Q3 2018, surpassing the previous quarter\u2019s increase of 1.0 percent, reported the Business\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112546,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mti-sees-gdp-growth-forcast-in-2019-and-2020\/","url_meta":{"origin":111748,"position":5},"title":"MTI sees GDP growth forcast in 2019 and 2020","date":"November 22, 2019","format":false,"excerpt":"\r Singapore\u2019s economy is expected to have a growth of \u201c0.5 to 2.5%\u201d in 2020. The Ministry of Trade and Industry (MTI) expects that the Singapore economy to grow by 0.5 to 1.0% this year and by 0.5 to 2.5%\u201d in 2020, according to a report released on Thursday (Nov\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\/111748"}],"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=111748"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/111748\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=111748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=111748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=111748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}