Singapore FY18 growth to slow slightly; Budget to be mildly expansionary, says RHB

SINGAPORE (Dec 21): Singapore’s GDP is set to slow down next year in tandem with a moderation in exports given the higher base effect and the end of the semiconductor supercycle, says RHB.

However, RHB believes the magnitude of moderation would not be as extreme as anticipated by consensus given domestic demand is set to rebound this year.

"This would be boosted by a rebound in the residential market and regulation-driven machinery upgrades, as well as continued upside momentum for consumer spending," says RHB economists.

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