In September, there were higher forecasts for finance & insurance, construction and wholesale & retail trade sectors. Market-watchers expect a 5.7% y-o-y change in the finance & insurance sector, an increase from the 5.1% y-o-y previously. In the construction sector, there is a median forecast of 3.9% y-o-y, up from 3.8% previously. The wholesale & retail trade is expected to experience a 3.0% y-o-y change compared to 2.5% y-o-y in June.
The Singapore economy is expected to expand by 2.6% in 2024, according to economists and analysts polled by the Monetary Authority of Singapore (MAS). The current survey released on Sept 11 reflects an increase from the estimate of 2.4% published in the previous survey in June.
The survey was sent to 25 economists and analysts, of which 21 responded.
