UOB Economists Upgrade Singapore FY Growth Forecast After 3Q GDP Print -- Market Talk

Dow Jones

2024-10-14

0613 GMT - UOB economists upgrade their forecast for Singapore's 2024 real GDP growth to 3.3% from 2.9%, following a strong 3Q GDP print. This compares with the official forecast of 2.0%-3.0%. Core inflation is easing, and price pressures becoming less broad-based, says economist Jester Koh. With the output gap expected to close in 2H, alongside stronger economic activity, demand-side inflation risks persist. Koh thinks MAS may proceed cautiously with policy normalization as the central bank monitors core inflation, aiming to keep it close to about 1.8%, while waiting for the GST hike effects to fade. "Our base case now calls for a 'slight' reduction (by 50bps) to the S$NEER slope either in Jan or Apr 2025." UOB cuts its 2025 GDP growth forecast to 2.9% from 3.2%. (fabiana.negrinochoa@wsj.com)

(END) Dow Jones Newswires

October 14, 2024 02:14 ET (06:14 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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This compares with the official forecast of 2.0%-3.0%. Core inflation is easing, and price pressures becoming less broad-based, says economist Jester Koh. With the output gap expected to close in 2H, alongside stronger economic activity, demand-side inflation risks persist. Koh thinks MAS may proceed cautiously with policy normalization as the central bank monitors core inflation, aiming to keep it close to about 1.8%, while waiting for the GST hike effects to fade. \"Our base case now calls for a 'slight' reduction (by 50bps) to the S$NEER slope either in Jan or Apr 2025.\" UOB cuts its 2025 GDP growth forecast to 2.9% from 3.2%. (fabiana.negrinochoa@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 14, 2024 02:14 ET (06:14 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"U11.SI","symbol_name":"大華銀行","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2475533387","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2475533387","pubTimestamp":1728886440,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Copyright (c) 2024 Dow Jones & Company, Inc.","collect":0,"end_time":0,"defaultTopTitle":"","property":["rate"],"viewcount":null,"language":"en","relate_stocks":{"U11.SI":"大华银行"},"translate_title":"大华银行经济学家在第三季度GDP公布后上调新加坡财年增长预测——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"U11.SI":1},"content_text":"0613 GMT - UOB economists upgrade their forecast for Singapore's 2024 real GDP growth to 3.3% from 2.9%, following a strong 3Q GDP print. This compares with the official forecast of 2.0%-3.0%. Core inflation is easing, and price pressures becoming less broad-based, says economist Jester Koh. With the output gap expected to close in 2H, alongside stronger economic activity, demand-side inflation risks persist. Koh thinks MAS may proceed cautiously with policy normalization as the central bank monitors core inflation, aiming to keep it close to about 1.8%, while waiting for the GST hike effects to fade. \"Our base case now calls for a 'slight' reduction (by 50bps) to the S$NEER slope either in Jan or Apr 2025.\" UOB cuts its 2025 GDP growth forecast to 2.9% from 3.2%. (fabiana.negrinochoa@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 14, 2024 02:14 ET (06:14 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}