FW: RHB | Singapore | MAS Stoic Despite Sharp 3Q GDP Rise

 

 

 

 

 

Economic Research			16 October 2017
Singapore
Economic Update
MAS Stoic Despite Sharp 3Q GDP Rise   Based on advanced estimates, Singapore’s economy picked up to +6.3% QoQ, SA, annualised, in 3Q17, boosted by a 23.1% surge in manufacturing output. Meanwhile, construction work contracted and services activities slowed, capping some of the upside. The data is based on the first two months of the quarter, and are likely to be revised. Going forward, we raise our projection for Singapore’s GDP to grow 2.8% in 2017, from +2.4% previously, and compared to 2% last year, as manufacturing production is set to expand at a faster pace than initially anticipated. For 2018, we expect GDP to grow 2.7%, on higher capex demand.   Economist:  Ng Kee Chou | +603 92802179
To access our recent reports please click on the links below: 02 October 2017: Loan Growth Picked Up Despite Softening M3 27 September 2017 : IPI Slows Despite Pharmaceutical Rebound 26 September 2017: August CPI Remained Muted 19 September 2017: August NODX Surged On Semiconductor, PC Demand 5 September 2017: Loan Growth Softened In Financial, Commerce Sectors 28 August 2017: Robust Semiconductor Activity Propels July IPI
Economics Team
Peck Boon Soon	Chief ASEAN Economist	bspeck@rhbgroup.com		+603 9280 2163
Vincent Loo Yeong Hong	Malaysia, Vietnam	vincent.loo@rhgroup.com		+603 9280 2172
Ng Kee Chou	Singapore, Thailand	ng.kee.chou@rhbgroup.com		+603 9280 2179
Rizki Fajar	Indonesia, Philippines	rizki.fajar@rhbgroup.com		+6221 2970 7065
Aris Nazman Maslan	Malaysia, Vietnam	mohd.aris.nazman@rhbgroup.com		+603 9280 2184

 

 

 

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