Singapore economists predict GDP to grow 3.8% in 2014

A tad lower than previous forecast.

According to the MAS March 2014 Survey, the Singapore economy expanded by 5.5% in Q4 2013, which was higher than the median forecast of 4.7% reported in the December 2013 Survey. For 2013 as a whole, the economy expanded by 4.1%, coming in above the respondents’ median forecast of 3.8%.

MAS noted that in the latest survey, the forecasters expect the economy to grow by 3.8% in 2014, slightly lower than the previous forecast of 3.9%.

As reflected by the mean probability distribution, the most likely outcome is for the Singapore economy to grow by between 3.0 to 3.9% this year. For the first quarter of this year, the respondents expect GDP to grow by 5.3%. This is a slight downgrade from the earlier 5.5% forecast.