Published:
Growth forecasts for Singapore's services sector were 'underestimated': analyst
Is it getting worse?
According to DBS, the slower manufacturing growth and the pain of restructuring are also expected to have an effect on the services sector.
While this implies a benign growth momentum, we reckon that the earlier growth projection for the services sector probably has been underestimated.
Here's more from DBS:
Growth in this sector should remain supported by expansion in the financial, business and other services sectors. Separately, the construction sector should continue to maintain a healthy pace of growth.
A strong pipeline of private residential and public transportation projects should continue to provide impetus to growth for this sector.
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