09 Jun '11, 12pm

IM$avvy Headlines: Economists in MAS survey raise year’s growth forecast to 6.2% #Singapore

(SINGAPORE) Private-sector economists expect Singapore's economy to expand by 6.2 per cent this year, up from an earlier forecast of 5.7 per cent, according to the latest quarterly poll of analysts by the Monetary Authority of Singapore (MAS). Respondents to MAS's June survey raised their forecasts for full-year growth after the economy grew by 8.3 per cent in the first quarter - well above the 5.9 per cent median forecast in the March survey. The rapid growth in Q1 also prompted the government on May 19 to raise its forecast range for full-year growth to 5-7 per cent, from 4-6 per cent previously. But economists surveyed by MAS now expect gross domestic product in the second quarter to have grown by just 2 per cent from a year ago, compared to the 3.4 per cent growth forecasted in the March survey. Most of the 21 respondents to the June survey expect the economy to grow b...

Full article: http://www.cpf.gov.sg/imsavvy/infohub_article.asp?readid=...

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