For the y/y, +4.1%
- expected +4.3%, prior +4.4%
From Singapore's MTI:
- Narrows 2022 GDP growth forecast to around 3.5% (previous forecast: 3% to 4%)
- Forecasts 2023 GDP growth of 0.5% to 2.5%
- Says for the rest of 2022, weaker external economic outlook will weigh on growth of outward-oriented sectors in Singapore
- Says growth prospects of several sectors remain positive in 2023
- Says growth of outward-oriented sectors expected to weaken in 2023 in tandem with deterioration in external demand conditions
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Re 'external economic outlook', this is a reference in particular to the mismanagement in China, a key component of Singapore's external sector.
SGD update:
