Market Chatter: Economists Downgrade Singapore's Economic Outlook in June Survey

MT Newswires06-09

Economists have trimmed their Singapore economic growth forecasts, while lifting inflation projections, according to a survey conducted by Bloomberg between June 2 and June 5.

The survey has cited headwinds from supply chain disruptions caused by conflict in the Middle East as the key reason behind the revised outlook, the report said.

The city-state's GDP growth rate for the second quarter has been revised to 3.9% from 4.5%, while full-year GDP was trimmed to 3.3% from 3.5%, the survey noted.

Headline inflation has been raised to 2.3% from 1.5%, while core inflation projections have been revised to 2% from 1.5%, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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