Trade war worries dampen 2019 outlook

For this year, the Singapore economy is expected to grow by 3.3 per cent, a tad above the 3.2 per cent forecast made in September.
For this year, the Singapore economy is expected to grow by 3.3 per cent, a tad above the 3.2 per cent forecast made in September.PHOTO: ST FILE

The economic outlook for 2019 remains clouded with concerns arising from the trade war between the United States and China.

In the Monetary Authority of Singapore survey released yesterday, key economists trimmed the economic growth forecast to 2.6 per cent next year, down from the 2.7 per cent expansion predicted previously.

A key concern is trade protectionism, according to the 23 economists and analysts polled. But more harbour hopes that the trade tensions could thaw - 47 per cent of respondents indicated this as a potential upside, up from 37 per cent in the September poll. The poll was launched before the US and China agreed on Dec 1 to halt new tariffs in a 90-day truce.

For this year, the Singapore economy is expected to grow by 3.3 per cent, a tad above the 3.2 per cent forecast made in September.

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A version of this article appeared in the print edition of The Straits Times on December 13, 2018, with the headline 'Trade war worries dampen 2019 outlook'. Print Edition | Subscribe