Singapore’s economy is expected to rise 1.5 percent this year, according to a survey of 21 forecasters by the Monetary Authority of Singapore (MAS).
The projection is notably lower than the 2.4 percent seen from the last survey in August and three percent in May, The Business Times reported.
Experts also expect to see lower growth next year at 2.7 percent, much lower than the previous median forecast of 3.9 percent.
Among the sectors, construction will likely see the strongest growth of 8.9 and 5.2 percent in 2012 and 2013 respectively.
Meanwhile, economist Michael Wan from Credit Suisse believes fixed investment will drive growth next year as the city-state ramps up housing supply and improves infrastructure.
Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
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