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Singapore's 2019 GDP growth forecast to moderate to 2.4% on external headwinds

Michelle Zhu
Michelle Zhu3/18/2019 11:21 AM GMT+08  • 2 min read
Singapore's 2019 GDP growth forecast to moderate to 2.4% on external headwinds
SINGAPORE (Mar 18): The Institute of Chartered Accountants in England and Wales (ICAEW) is expecting Singapore’s GDP growth to moderate to 2.4% in 2019 from 3.2% in the previous year, against the backdrop of a more challenging environment for exports an
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SINGAPORE (Mar 18): The Institute of Chartered Accountants in England and Wales (ICAEW) is expecting Singapore’s GDP growth to moderate to 2.4% in 2019 from 3.2% in the previous year, against the backdrop of a more challenging environment for exports and the manufacturing sector.

This is according to the institute’s latest Economic Insight: South-East Asia report, which is produced by Oxford Economics, the institute’s partner and economic forecaster.

ICAEW’s projected 2019 GDP growth figure for Singapore comes in marginally lower than the 2.5% expansion expected by professional forecasters by the Monetary Authority of Singapore (MAS) in March.

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