Expansion will be just 1.8% by end-2012.
According to the latest MAS Survey of Professional Forecasters, the Singapore economy expanded by 0.3% in Q3 2012 compared with the same period last year. This was much lower than the median forecast of 2.3% reported in the Sep 2012 Survey.
Here's more from MAS:
The respondents expect the economy to grow by 1.5% in 2012, a significant downgrade from the 2.4% median forecast in the previous survey.
As reflected by the mean probability distribution, the most likely outcome is for the Singapore economy to grow by between 1.0 to 1.9% this year, lower than the 2.0 to 2.9% projected in the previous survey.
For Q4 2012, the respondents expect GDP to expand by 1.8%. This is lower than the 3.6% forecast in the previous survey.
For 2013, the respondents expect GDP growth to be 2.7%, while CPI-All Items and MAS Core Inflation are forecast to come in at 3.8% and 2.2% respectively. As reflected by the mean probability distribution, the most likely outcome is for the Singapore economy to grow by 2.0 to 2.9% next year, a downshift from the 3.0 to 3.9% in the last survey.
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