World Economy

Singapore Growth Trimmed

Singapore Growth TrimmedSingapore Growth Trimmed

Economists have slightly lowered their forecasts for Singapore’s 2015 growth and headline inflation compared with three months ago, a central bank survey showed on Wednesday, Reuters reported. The median forecast of 23 economists surveyed by the Monetary Authority of Singapore  was for gross domestic product to expand 2.7% this year, down from 2.8% growth expected in a survey published in March. The survey showed that non-oil domestic exports in 2015 is now expected to grow 2.6%, up from 1.6% in the previous MAS survey. Economists, however, still lowered their 2015 growth forecast for the manufacturing sector to 0.5%, down from 1.8% in the previous survey.