A more balanced expansion is in the cards for Singapore in 2018, raising optimism for a sustained recovery following a better-than-expected 2017.
If the Singapore economy spent 2017 being buoyed by a strong manufacturing sector, then 2018 will see the growth contribution start to become more broadly distributed amongst the sectors. Notably, the services sector that accounts for nearly two-thirds of the economy has shown signs of recovery in 2017 and should be sustained in 2018, according to Mohamed Faiz Nagutha, ASEAN economist at Bank of America Merrill Lynch (BofAML) amidst stronger government focus on strengthening areas such as healthcare and retail. A more balanced expansion is in the cards for Singapore in 2018, raising optimism for a sustained recovery following a better-than-expected 2017 and despite forecasts of slower export growth.
This story is from the February - March 2018 edition of Singapore Business Review.
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This story is from the February - March 2018 edition of Singapore Business Review.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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