Economists more optimistic on Singapore's growth: MAS survey

Private sector economists have become more bullish in their outlook for the Singapore economy this year, predicting more robust growth and milder inflation. -- ST FILE PHOTO:  LIM YAOHUI
Private sector economists have become more bullish in their outlook for the Singapore economy this year, predicting more robust growth and milder inflation. -- ST FILE PHOTO:  LIM YAOHUI

Private sector economists have become more bullish in their outlook for the Singapore economy this year, predicting more robust growth and milder inflation.

They now expect the local economy to grow 3.8 per cent this year, according to an Monetary Authority of Singapore survey released on Wednesday, marginally higher than the previous 2.9 per cent forecast in September.

This is in the middle of the Government's forecast of 3.5 per cent to 4 per cent growth for 2013. The official projection was upgraded last month, raised from the 2.5 per cent to 3.5 per cent tipped previously.

The 21 respondents polled also expect inflation to come in at 2.4 per cent for this year, down from the 2.5 per cent predicted in the previous survey.

They anticipate core inflation, which excludes private cars and accommodation, of 1.7 per cent in 2013, mildly more optimistic than the 1.9 per cent seen previously.

These economists also projected growth of 3.9 per cent for next year, with inflation seen to come in at 2.8 per cent and core inflation at 2.3 per cent.