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First quarter GDP growth likely to fall below 2%, warns BofAML
The GDP forecast will be revised.
Singapore’s first quarter gross domestic product (GDP) growth is likely to fall below the government’s forecast range of 2%-4%, Bank of America Merrill Lynch said in a report.
The report stated that industrial production growth is likely to be near zero for until February, after Singapore posted a disappointing 0.9% IP growth in January.
“We think there is a high probability that the government will have to reduce the GDP growth forecast to 1%-3% before mid-year, from the current 2%-4%,” BofAML noted.
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