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DBS cuts Singapore 2014 growth forecast to 3% from 4%

Published on Jul 23, 2014 11:47 AM
People walk past the DBS branch at Rochor Centre. -- PHOTO: ST FILE

SINGAPORE (Reuters) - Singapore's biggest lender DBS downgraded its 2014 growth forecast for Singapore on Wednesday, citing a disappointing performance in the manufacturing sector and continued weakness in the services sector.

DBS said in a research note that it had downgraded its full-year economic growth forecast for Singapore to 3 per cent from its previous forecast of 4 per cent.