Singapore private sector economists bullish about economy

16:29, September 01, 2010      

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Private sector economists have become more bullish about Singapore's economy, sharply raising the full year's growth forecast to 14.9 percent, local TV broadcaster Channel NewsAsia reported on Wednesday.

This is reflected by private sector economists in a latest survey conducted by the Monetary Authority of Singapore (MAS).

For the third quarter this year, MAS said the respondents now also expect gross domestic product (GDP) to rise by 11.6 percent.

The full year growth forecast is an upgrade from 9 percent that economists had forecast in the previous survey carried out in June.

The figure also lies within the government's official full year forecast for a growth of between 13 and 15 percent.

The upgrade comes in the wake of robust growth in the second quarter this year, when GDP expanded by 18.8 percent on-year.

As for inflation, the median consumer price index forecast for this year increased to 2.9 percent, up from 2.8 percent.



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