This is 0.3 points lower than the 3.8 percent GDP forecast in the previous survey report released by the MAS this June, and 0.5 points lower than the four percent GDP forecast in the survey report released this March.
In the latest survey, the respondents expect the economy to grow by 3.9 percent and 2.2 percent year on year, respectively, in the third quarter and fourth quarter of 2022. In the second quarter, the GDP grew by 4.4 percent year on year.
As for inflation, the respondents forecast that Singapore's Consumer Price Index for all items (CPI-All Items) would grow by 5.7 percent in the whole year of 2022, and the MAS core inflation, which excludes the costs of accommodation and private road transport, would come in at 3.8 percent.
Economists and analysts forecast that Singapore's GDP would grow by 2.8 percent in 2023 when the CPI-All Items inflation and the MAS core inflation are expected to come in at 3.5 percent and 3.1 percent respectively.
The MAS said this month's survey report reflects the views received from 21 respondents and does not represent the MAS' views or forecasts.
Latest comments