Macroeconomic Forecast Singapore

BMI View: Record tourist arrivals and a decline in the unemployment rate provided a significant boost to consumer spending in the economy, which helped support growth in 2006. While current global economic conditions have managed to remain healthy (Q4 growth in the US was an annualised 3.5%) - positive news for Singapore's export industry - in our view, the impending downturn in the tech cycle will be enough to ensure that growth in 2007 will moderate. Consequently, we project a growth rate of 5.2% in the year ahead, which fits within the government's upwardly revised 4.5-6.5%

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