SINGAPORE: Private-sector economists are less sanguine about the growth outlook for Singapore’s economy this year, and have moderated their expectations for several sectors, a quarterly survey released by the Monetary Authority of Singapore on Wednesday shows.
The economists polled in the survey say they expect the economy to grow 2.2% this year, down from their median forecast of 2.7% in the previous survey in June. The economy grew 1.85 in 2Q 2015.
The manufacturing sector is expected to see a contraction of 2.7% this year, down from the 0.5% forecast in the previous survey. The finance and insurance industry is expected to grow 6.6%, down from 7%, while the construction sector is expected to grow 2.3%, down from 3.3%. The accommodation and food services sector is expected to contract 0.1%, compared with a growth forecast of 1 per cent.
However, the forecast ......