Economy / Singapore
If you would like to subscribe to South East Asia Monitor Vol 2 and gain instant access to this article, please click here to subscribe.
If you would like to take a trial to South East Asia Monitor Vol 2 please click on the trial link below.
Macroeconomic Forecast Singapore
May 2006 | Macroeconomic ForecastsSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
If you would like to subscribe to South East Asia Monitor Vol 2 and gain instant access to this article, please click here to subscribe.
If you would like to take a trial to South East Asia Monitor Vol 2 please click on the trial link below.
The economy is forecast to grow by 5.7% in 2006, but we are considering an upward revision based upon strong recent indicators. Retail sales in March rose by a seasonally adjusted14.5% from February, their highest rate for nearly eight years. Furthermore, vehicle sales, a good indicator of consumer confidence, were the main driver of this rise. A tight labour market and strong global growth, which has supported exports, have led to this vibrancy. There is also a good chance that preliminary estimates of Q1 growth were too low, and the economy could have grown by over 10% y-o-y, compared with