Economic Research | 24 May 2018 | |||
Singapore | ||||
Economic Update | ||||
u GDP grew 4.4% YoY in 1Q18, slightly above the advanced estimate of 4.3% and compared to +3.6% in 4Q17 – it was supported by a surge in government consumption and rebound in net exports; u On a sectoral basis, growth was driven by the manufacturing and services sectors, but construction activities continued to stay weak; u We maintain our forecast for 2018 GDP at 3% – in line with MTI’s forecast, which was revised upward to 2.5-3.5%. The latter was in line with a moderation in exports and shift towards a healthy, though moderate, semiconductor cycle this year. Economist: Vincent Loo Yeong Hong | +603 9280 2172 | ||||
To access our recent reports please click on the links below: 23 May: April’s Inflation Still Soft 17 May: NODX Rebounds In April On Pharma Exports 30 Apr: M3 Eases In March, Loans Stay On Upward Trend 26 Apr: IPI: Stellar Semicon Growth But Weakness Persists 23 Apr: March Inflation Eases To 0.2% YoY 17 Apr: NODX Falls 2.7%, EP NODX Disappoints | ||||
Economics Team | ||||
Arup Raha | Group Chief Economist | +65 6232 3896 | ||
Peck Boon Soon | Chief ASEAN Economist | +603 9280 2163 | ||
Vincent Loo Yeong Hong | Malaysia, Singapore | +603 9280 2172 | ||
Ahmad Nazmi Idrus | Indonesia | +603 9280 2179 | ||
Aris Nazman Maslan | Thailand, Philippines , Vietnam | +603 9280 2184 | ||
Thursday, May 24, 2018
FW: RHB | Singapore | GDP Above Initial Estimate
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