S’pore GDP forecasts

SINGAPORE: Economists have revised their economic growth forecasts for Singapore for 2015 and 2016 down from their projections three months ago, a central bank survey showed on Wednesday. The median forecast of 22 economists surveyed by Monetary Authority of Singapore (MAS) was for gross domestic product (GDP) to expand 1.9 per cent this year, down from 2.2 per cent expected in the previous MAS survey published in September. The MAS survey showed that economists expect GDP growth in the fourth quarter to come in at 1.4 per cent year-on-year, down from 2.3 per cent expected in the previous survey. In 2016, GDP growth is seen likely to come in at 2.2 per cent, compared to 2.8 per cent expected in September survey.