GDP growth

No need yet for economic stimulus, PM says, as Singapore looks to infrastructure for the future

SINGAPORE (Aug 19): Even as Singapore teeters on the edge of a technical recession, Prime Minister Lee Hsien Loong says there’s no need yet for immediate economic stimulus measures.

However, he adds that the government is prepared, and will “promptly respond” with appropriate interventions if the situation worsens.

Speaking at the National Day Rally 2019 on Sunday, Lee acknowledges that Singapore's economic growth has slowed significantly, but notes that retrenchment and unemployment rates in the city state remain low.

Malaysia has room to pump-prime, revise 3% fiscal target for 2020

SINGAPORE (Aug 12): Finance Minister Lim Guan Eng, who is slated to table Budget 2020 on Oct 11, has said that meeting the country’s fiscal consolidation targets will be “challenging” on the back of the US-China trade war, but added that the government will do its best in balancing that with growth.

Experts, however, believe that Malaysia has leeway to revise the 3% fiscal deficit target pencilled in for next year, given the need to prop up economic growth, bolster confidence and stoke investments to future-proof the country’s economy.

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Singapore leads the way in regional online recruitment activity: Monster

SINGAPORE (Nov 20): Singapore is set to continue on its upward hiring trajectory this year given its strong position in the market, as highlighted by the third quarterly Monster Employment Index (MEI) report by Monster, the online career & recruitment platform.

According to the Monster MEI report, overall online hiring activity in Singapore remained on an upward trend with 2% growth for 3Q, in line with the doubling of overall employment growth in the same period compared to the previous three months.

Singapore set for slower but 'enduring' growth: MAS

SINGAPORE (Oct 26): Singapore's economy is poised for slower but "enduring" growth even as trade tensions remain at the forefront of considerations for global growth prospects, the city-state’s central bank sid in a Friday report.

Singapore’s economy will likely grow in the upper half of the earlier forecast range of between 2.5% and 3.5% this year, before moderating slightly in 2019, the Monetary Authority of Singapore (MAS) said in its Macroeconomic Review report.

US protectionism and China deleveraging pace big worries for Asian stock investors: BlackRock

(June 20): While economic fundamentals and earnings results remain strong, the MSCI AC Asia Pacific index has underperformed the MSCI AC World Index year to date. What has happened?

Equity markets plummeted in late January 2018 driven mainly by technical factors, but we were confident that the underlying drivers of corporate earnings remained solid. Global growth prospects were strong even before the new US hefty tax cuts and fiscal stimulus. Combined, we estimate these measures may add as much as one point to US GDP growth.

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World Bank raises East Asia's 2018 GDP outlook, but wary of trade war

(Apr 12): The World Bank raised its growth forecast for East Asia and the Pacific for 2018, but warned that a possible US-China trade war could harm growth in countries that are part of the Chinese goods supply chain.

The Washington-based lender said in a report on Thursday it expected 2018 growth in the developing East Asia and Pacific (EAP) region, which includes China, to expand 6.3%, a notch up from 6.2% forecast in October.

Is Singapore funding its rising social spending the right way?

SINGAPORE (Mar 5): The unveiling of the Budget for 2018 has triggered a healthy debate on how the likely pressures for more government social spending in Singapore should be funded. The government has proposed a two-percentage-point rise in the Goods and Services Tax (GST) after 2021, believing that this would be the best option of the alternatives available.

There are three key considerations that will determine the direction Singapore’s fiscal trajectory will take:

Domestic-oriented activities to give Singapore economy greater boost in 2018, says HSBC

SINGAPORE (Dec 18): HSBC Global Research says Singapore’s domestic economy could improve, even as GDP growth is forecast to ease to 2.7% in 2018, from the 3.3% expected in 2017.

“It’s been a blockbuster year for Singapore. Rising external demand has led to a strong pick-up across the manufacturing sector this year, but semiconductors have contributed to most of the upside growth surprises,” says HSBC economist Chen Jingyang in the 1Q18 report on Asia economics.

According to Chen, the global demand for semiconductors has been driven by a global tech upswing since 2016.

Here's why CIMB is adding these 2 stocks to its top picks

SINGAPORE (Oct 13): CIMB Research is upbeat on Singapore’s manufacturing and property sectors amid advance estimates from the Ministry of Trade and Industry (MTI) that put GDP growth at 4.6% year-on-year in 3Q17.

The research house has “overweight” ratings on both sectors.

In a flash note on Friday, CIMB analyst Lim Siew Khee says the growth was led by “a sharp acceleration in manufacturing growth.”

“This is the strongest annual growth since 1Q 2014’s growth of 4.9% y-o-y,” Lim notes.

Analysts raise Singapore 3Q GDP view, but 2017 outlook steady: MAS

SINGAPORE (Sept 6): Economists have raised their forecasts for Singapore's economic growth in the third quarter, with manufacturing activity likely to remain solid after a strong first half, a central bank survey showed on Wednesday.

The quarterly survey by the Monetary Authority of Singapore (MAS), however, showed no change in the economists' median forecasts for full-year growth in 2017 and also for 2018, compared to three months ago.

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