Economic
Research
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17 October 2016
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Singapore
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Economic
Highlights
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At its advance reading, Singapore’s
3Q GDP plunged 4.1% on a q-o-q seasonally-adjusted annualised basis,
retreating from a 0.2% gain in the previous quarter.
Despite the steep deterioration
in economic growth, the Monetary Authority of Singapore (MAS) made no
adjustments to the SGD nominal effective exchange rate (S$NEER).
We lower our forecast and now
expect GDP to grow 1.4% and 1.2% in 2016 and 2017 respectively, from
+1.8% and +1.4% earlier.
Further, we feel it is
warranted for MAS to ease its S$NEERslope at its next meeting in April 2017.
Economist: Ng Kee Chou
| +603 92802179
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To
access our recent reports please click on the links below:
04 October 2016: August
M3 Picks Up But Loan Growth Continues To Deteriorate
27 September 2016: August
IPI Inched Higher From Low 2015 Base
26 September 2016: Smaller
Fall In August CPI As Road Tax Rebate Expires
19 September 2016: Not
A Clean Bill Of Health
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Monday, October 17, 2016
MAS Holds Out On Easing Despite Sharp Downturn In 3Q GDP
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