Economists see 3.3% growth for Singapore in Q2

Economists are more upbeat about Singapore's second-quarter economic growth than they were earlier in the year, according to a survey conducted by the Monetary Authority of Singapore (MAS). -- ST PHOTO: LIM YAOHUI FOR THE STRAITS TIMES
Economists are more upbeat about Singapore's second-quarter economic growth than they were earlier in the year, according to a survey conducted by the Monetary Authority of Singapore (MAS). -- ST PHOTO: LIM YAOHUI FOR THE STRAITS TIMES

SINGAPORE - Economists are more upbeat about Singapore's second-quarter economic growth than they were earlier in the year, according to a survey conducted by the Monetary Authority of Singapore (MAS).

The survey, which polled 26 private sector analysts on their forecasts, showed that economists expect the Singapore economy to grow 3.3 per cent in the three months to June, over the same period last year.

This is up from the 3 per cent growth forecast in a similar survey conducted in March.

Inflation expectations for the full year have also moderated in the latest survey, whose findings were released on Wednesday.

Respondents say consumer prices are likely to go up 2.2 per cent this year, down from an earlier estimate of 2.8 per cent.

Inflation in the second quarter is likely to come in at 2.6 per cent, the poll showed.

Analysts expect full-year growth to come in at 3.8 per cent. This was unchanged from their forecasts in March.

The economy is expected to grow 3.9 per cent next year, while consumer prices are likely to increase by 2.5 per cent, according to economists' latest forecasts.