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Chart of the Day: These 3 economic sectors are struggling to gain traction
Singapore's GDP is then expected to grow a measly 2.2% in 2017.
Singapore's economy will be hit by a double whammy and will therefore underperform into 2017, according to BMI Research.
"We retain our real GDP growth forecasts at 1.7% and 2.2%, respectively, for 2016 and 2017. Singapore's economic slowdown is broad-based, with both structural domestic factors and external demand woes playing a part in the city state's prolonged malaise."
But if it's any consolation, the analyst believes the economy's strong foundation should be sufficient to stave off a recession over the near-to-medium term. There is, however, little impetus for a significant pick-up in activity.
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