Macroeconomic Forecast Singapore

July 2006 | Macroeconomic Forecasts

BMI View: Singapore's economy is losing momentum, with quarter-on-quarter growth slowing for the second quarter in a row. Furthermore, external demand is likely to lose some pace in the second half of the year, as the effects of the global monetary tightening cycle, particularly in the US, begin to slow the global economy. However, year-on-year growth remains high and external demand should remain strong enough for our growth forecast of 6.3% to still be achieved. Domestic demand should also add support, with low unemployment ensuring consumer confidence remains fairly buoyant.

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