{"id":113029,"date":"2019-12-12T14:54:48","date_gmt":"2019-12-12T07:54:48","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-growth-forecast-raised-to-0-7-survey\/"},"modified":"2019-12-12T16:04:25","modified_gmt":"2019-12-12T09:04:25","slug":"singapores-growth-forecast-raised-to-0-7-survey","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-growth-forecast-raised-to-0-7-survey\/","title":{"rendered":"Singapore's growth forecast raised to 0.7%: Survey"},"content":{"rendered":"


\nThis is 0.1% higher compared to the previous survey.\u00a0
\nPrivate-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.
\nThe new forecast comes after the Singapore economy grew by 0.5% in the third quarter, higher than the 0.3% expected by respondents in the last survey, reported Channel News Asia.
\nHowever, the new revisions will now see the manufacturing sector contract by 1.4%, moderating from the 2.4% slide in the previous estimate. Outlook was also not good for the wholesale and retail trade sector, going down to -3% from -2.8% previously.
\nOn a more positive note, the finance and insurance industry is predicted to post a 4.1% growth, a small drop from the 4.3% growth expected previously.
\nThe construction sector is also expected to grow by 2.8%, an increase from the 2.7% growth predicted in the previous survey.
\nREAD:\u00a0Presenting The Singapore Property Market Outlook 2020
\nForecasted growth in the food and accommodation services sector meanwhile, is expected to grow more than double to reach 1.9% compared to the last survey.
\nThe economists also expect GDP growth to be at 1.5% in 2020.
\nLooking for a property in Singapore? Visit\u00a0PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\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’s growth forecast raised to 0.7%: Survey<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

This is 0.1% higher compared to the previous survey.\u00a0 Private-sector economists have raised Singapore\u2019s growth...<\/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-113029","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-tp3","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":113029,"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":108058,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/economists-lower-growth-forecast-for-singapore-again-mas-survey\/","url_meta":{"origin":113029,"position":1},"title":"Economists lower growth forecast for Singapore again, MAS survey","date":"June 13, 2019","format":false,"excerpt":"\r The 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. Economists have once again lowered their growth forecast for Singapore to 2.1 percent, down from their earlier forecast of\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":113029,"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":113029,"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":112546,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mti-sees-gdp-growth-forcast-in-2019-and-2020\/","url_meta":{"origin":113029,"position":4},"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":[]},{"id":109878,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-cuts-economic-forecast-for-this-year\/","url_meta":{"origin":113029,"position":5},"title":"Singapore cuts economic forecast for this year","date":"August 14, 2019","format":false,"excerpt":"\r The Singapore government slashed its full-year economic growth forecast to between zero growth and 1%, from its previous projection of between 1.5% and 2.5%,\u00a0the Ministry of Trade and Industry (MTI) said on Tuesday (13 August). This comes as global conditions worsened, \u201cpartly due to the escalation in the US-China\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\/113029"}],"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=113029"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/113029\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=113029"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=113029"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=113029"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}