While slowing external trade is likely continue to weigh down trade-related activities and new tightening measures on the property market should keep growth in check for the rest of the year, RHB says this would be mitigated by buoyant modern services such as financial and information & communications services.
SINGAPORE (July 13): RHB Research is maintaining its forecast for 2018 GDP at 3%, given moderating exports and the shift towards a more moderate semiconductor cycle this year.
Singapore’s economic growth is expected to stay resilient as exports continue to grow, says RHB, while domestic demand is also expected to be resilient throughout the year driven by regulatory-led machinery upgrades.
