Singapore economy grows 3.4% in Q1, slower than previous quarter (CNA)
The slowdown in the first quarter was largely due to the manufacturing sector coming off a high base, said MUFG Bank’s senior currency analyst Jeff Ng. Moving forward, the easing of COVID-19 restrictions, for both domestic activity and international travel, will support economic growth in the coming quarters, added Mr Holmes. Aggressive interest rate hikes to tackle inflation are likely to dampen growth in the US, said Mr Ng, while lockdowns in parts of China due to fresh COVID-19 outbreaks are fuelling further concerns about growth in the world’s second-largest economy. “If US or China’s growth slow significantly, Singapore will likely be the most vulnerable in Southeast Asia,” he added.MAS tightens monetary policy for the third time in 6 months to slow rising inflation (CNA)
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