Credit Suisse thinks the “headwinds” to Singapore’s economy will likely increase in the new year, after fourth quarter gross domestic product rise beats expectations.
Credit Suisse lists higher interest rates, a weaker China and property market downturn among the key problem areas for Singapore.
Credit Suisse predicts Singapore's economy to grow at 1.9% in 2016, slowing from 2.1% in 2015.
Government data released earlier Monday showed that the economy grew 5.7% on a seasonally adjusted and annualised basis compared with the previous quarter in the three months to December, significantly higher than analyst predictions.
The data showed that growth was supported by services and construction, while manufacturing was a drag.
“What today's number continues to suggest is that services are becoming more important for growth relative to the contracting manufacturing sector, and will likely be so over the course of 2016,” Credit Suisse says.
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Credit Suisse lists higher interest rates, a weaker China and property market downturn among the key problem areas for Singapore.
Credit Suisse predicts Singapore's economy to grow at 1.9% in 2016, slowing from 2.1% in 2015.
Government data released earlier Monday showed that the economy grew 5.7% on a seasonally adjusted and annualised basis compared with the previous quarter in the three months to December, significantly higher than analyst predictions.
The data showed that growth was supported by services and construction, while manufacturing was a drag.
“What today's number continues to suggest is that services are becoming more important for growth relative to the contracting manufacturing sector, and will likely be so over the course of 2016,” Credit Suisse says.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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