Singapore economy to grow by 3.7% in 2015: MAS

More than the price increase of goods.

The country will experience a slightly better year in 2015 in terms of overall economic growth, a sign that is is already picking up from 2012 lows.

Singapore’s economy is expected to grow by 3.7% in 2015, while CPI-All items and MAS core inflation are forecast to be 2.2% and 2.5% respectively.

As reflected by the mean probability distribution, the most likely outcome is for the Singapore economy to grow by 3.0 to 3.9% next year.

The median CPI-All Items inflation forecast for 2014 fell to 1.8%, from the 2.2% reported in the previous survey.
For Q3 2014, CPI-All Items inflation is projected at 1.8%. The respondents also expect MAS Core Inflation to be 2.2% in 2014, slightly lower than the 2.4% in the June 2014 survey. 

As for the labour market, the respondents expect the unemployment rate to be 2.0% at year-end.