Singapore economy predicted to grow 2.9% this year

A little higher from previous forecast.

According to the Monetary Authority of Singapore's September 2013 survey, for the full year of 2013, economists and analysts  have raised the median growth forecast for the Singapore economy to 2.9% in 2013, from 2.3% in the previous survey.

The September 2013 Survey was sent out on 12 Aug 2013 to a total of 26 economists and analysts who closely monitor the Singapore economy. This report reflects the views received from 19 respondents (73% responses rate).

As reflected by the mean probability distribution, the most likely outcome is for the Singapore economy to grow by between 2.0-2.9% in 2013. Although this was unchanged from the last survey, there was an increase in the projected probabilities of GDP growth falling above 2.9%.

For Q3 2013, the economists, expect GDP to expand by 4.0%. This is higher than the 3.5% that was reported in the earlier survey.