Respondents expect Singapore’s economy to grow by 1.5% in 2Q2023. Meanwhile, they have projected Singapore’s CPI-All Items inflation or headline inflation and MAS Core Inflation to be at 5.2% and 4.6% for the second quarter of 2023, respectively.
Singapore’s economy is now expected to grow by just 1.4% this year, according to experts surveyed by the Monetary Authority of Singapore (MAS). The central bank’s June survey of professional forecasters saw the latest estimate come in lower than earlier growth forecasts for 2023 of 1.9% in March.
According to the 26 economists and analysts who responded to the survey, the most likely outcome is for the Singapore economy to grow by 1.0% to 1.9% in 2023, with an average probability of 45.5%. This is a full percentage point lower than the previous MAS survey in March, in which respondents assigned the highest probability of growth outturns between 2% to 2.9%.
