Macroeconomic Forecast Singapore

BMI View: We have revised our growth forecast up to 6.7% for 2006 from 6.3% previously, in light of the recent upward revision of Q206 GDP data. The latest data from Department of Statistics shows that the economy grew by 8.1% y-o-y, rather than the preliminary estimate of 7.5%. On a quarter-on-quarter annualised basis the economy grew by 3.0%, and although this is a slowdown in momentum from 7.6% in Q106, it is still faster than previously thought.

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