“Notwithstanding the slowdown, the RHB-CLI (SG) does not hint at any recessionary cues,” writes the economist. “We expect Singapore to comfortably avoid a technical recession in 3Q22. This is in line with our call made in our recent Singapore gross domestic product (GDP) report for 2Q2022, albeit that any further deceleration in momentum in 3Q2022 may be enough to tip sequential growth into the negative zone.”
Data from RHB Group Research suggests that Singapore will stave off a technical recession in 3Q2022 despite slowing down in 2H2022, says a report from economist Barnabas Gan dated Aug 23.
According to Gan, RHB’s composite leading indicator, RHB-CLI (SG), which has accurately predicted the latest three boom and bust business cycles in Singapore’s economic history, suggests that Singapore’s economic growth momentum will moderate in 2H2022, avoiding a technical recession in 3Q2022 — defined as two consecutive quarters of negative sequential growth.
