Experts raise Singapore's GDP forecast to 2.9%
But emerging market crisis could dampen growth, they warn
A sterling showing in the second quarter has made economists more upbeat over Singapore's full-year growth prospects, even as they expect slower growth from manufacturing.
The view of 19 private sector economists and analysts is that the economy will expand 2.9 per cent this year, up from their forecast in June of 2.3 per cent.
The poll was conducted by the Monetary Authority of Singapore (MAS) and its results are near the middle of the Government's recently revised growth forecast range of 2.5 to 3.5 per cent for 2013.
"Robust services growth and a weak manufacturing recovery have led to growth upgrades," said Bank of America Merrill Lynch economist Chua Hak Bin yesterday.