Economists cut S'pore growth forecast to 1.9%

An office worker at Raffles Place, at the central business district on June 3, 2015.
An office worker at Raffles Place, at the central business district on June 3, 2015. PHOTO: ST FILE

Singapore's economic prospects this year have dimmed even further amid a weak global outlook, according to a new survey.

Growth is likely to come in at a modest 1.9 per cent this year, down from an earlier forecast of 2.2 per cent, say economists polled by the Monetary Authority of Singapore (MAS) in its quarterly survey out yesterday.

Singapore's manufacturing and finance and insurance sectors have been hit the hardest, with economists giving these industries the sharpest growth downgrades in the latest survey.

The latest poll, which was sent out on Feb 24, reflects views from 24 economists who closely monitor the Singapore economy.

They said the outlook has worsened since the beginning of this year but some remain hopeful that prospects will brighten in the second half.

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A version of this article appeared in the print edition of The Straits Times on March 17, 2016, with the headline 'Economists cut S'pore growth forecast to 1.9%'. Print Edition | Subscribe