Singapore’s GDP to grow 3.4% in 2H12: OCBC

The analyst does not foresee a sharp rebound due to the Eurozone crisis, so that’s as good as it gets.

In a release, OCBC said that Singapore’s growth is expected to post a modest pick up from Q1's relatively tepid 1.6% yoy pace, but they do not foresee a sharp rebound in H2 2012 given that global demand conditions remain soft and external headwinds from the Eurozone debt crisis and Chinese economic slowdown is ongoing.

Here’s more from OCBC:

We are forecasting H2 2012 growth of 3.4% yoy versus the 2% for H1. This is predicated on no disorderly default/exit of any Eurozone member, the Chinese policymakers pull off a soft landing, and the additional global monetary policy accommodation mitigates the fiscal consolidation efforts.