Commenting on the city state’s latest 1Q19 economic data, RHB notes in a report last Thursday that the 1.2% y-o-y expansion of Singapore’s economy came in slightly below the advance estimate and 4Q18 growth of 1.3%, with the manufacturing sector experiencing its first contraction since 1Q16.
SINGAPORE (May 28): RHB Research is turning negative on Singapore’s short-term economic outlook on expectations of a prolonged slowdown in the electronics sector as well as weaker global growth prospects.
As such, the research house is revising its 2019 GDP growth estimate downward to 1.8% from 2.5% previously.
