Lai Lai Lai...买定离手， Glass is Half Fill or Half Empty?So what is the new growth outlook?

[k1976]

5hour ago.....everything still in 万福金安Goldilock Mode


https://www.straitstimes.com/busine...intact-on-improving-exports-tourism-boost-mas
The Singapore economy is on track for faster growth in 2024, aided by resilient global demand for its exports and above-trend growth in tourism-related industries, the central bank said on April 26.

The Monetary Authority of Singapore (MAS) maintained its estimate of 1 per cent to 3 per cent GDP growth in 2024, made in November, after the 1.1 per cent expansion in 2023. The main clusters of the economy are converging towards their pre-pandemic growth rates, it said.

“Growth in the trade-related and modern services clusters are expected to improve from last year, while that in the travel-related and domestic-oriented clusters will continue to moderate but stay above trend,” it said in its latest twice-yearly macroeconomic review.

 

[k1976]

Only hour ago....suddenly maybe possibly...there is some slow growth, kym?


https://www.businesstimes.com.sg/singapore/singapore-must-prepare-slower-growth-higher-costs-mas

Singapore must prepare for slower growth at higher costs: MAS​

In the Republic’s transition to a slower long-run growth path, wages and prices may rise more quickly than in other countries

Elysia Tan​

Published Fri, Apr 26, 2024 · 04:10 PM

SINGAPORE faces a slower “long-run growth path” with higher costs, the Monetary Authority of Singapore (MAS) said in its half-yearly macroeconomic review on Friday (Apr 26).

“As resource constraints and cost increases become more binding in the years to come, Singapore will likely have to confront the eventuality of its slower long-run growth path.”

This new steady state growth rate will largely depend on total factor productivity (TFP) gains, added MAS.

 

[k1976]

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Economics

Singapore’s Path to Faster Economic Growth Is Riddled With Risks​

By Claire Jiao
April 26, 2024 at 12:03 PM GMT+8

Escalating tensions in the Middle East and risk of a delayed easing in global interest rates could threaten Singapore’s economic rebound this year, according to the central bank’s latest review.

While the Monetary Authority of Singapore stuck to its view that the economy would grow 1%-3% this year, it said in its biannual Macroeconomic Review published Friday that the outlook depends on the global pivot to monetary easing and a tech upswing.
https://www.bloomberg.com/tips/

 

[k1976]

https://www.scmp.com/news/asia/sout...rates-could-dampen-singapores-economic-growth

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AsiaSoutheast Asia

Middle East conflicts, high interest rates could dampen Singapore’s economic growth​

• The central bank said the domestic growth outlook depends on the global pivot to monetary easing and a tech upswing
• The economy expanded just 1.1 per cent in 2023, a pace that Prime Minister-designate Lawrence Wong said spells trouble should it be sustained for a long time

 

[k1976]

Escalating tensions in the Middle East and risk of a delayed easing in global interest rates could threaten Singapore’s economic rebound this year, according to the central bank’s latest review.

While the Monetary Authority of Singapore stuck to its view that the economy would grow 1 per cent-3 per cent this year, it said in its biannual Macroeconomic Review published on Friday that the outlook depends on the global pivot to monetary easing and a tech upswing.

“There are still lingering risks from higher for longer global interest rates and capital flow volatility,” the MAS said in the report.

“An escalation in geopolitical conflicts could also lead to an abrupt increase in financial market stress and heightened uncertainty, dampening global and domestic growth prospects.”

 

[k1976]

MAS expects the US Federal Reserve to start lowering borrowing costs in the third quarter, which together with a recovery in global chip sales can help power Singapore’s GDP growth to around its potential rate for the whole of 2024.


The economy expanded just 1.1 per cent in 2023, a pace that Prime Minister-designate Lawrence Wong had said spells trouble should it be sustained for a prolonged period.

Events of the past week illustrate just how quickly and drastically shocks could wreak havoc on global and domestic economies.

Fears of a broader Middle East conflict and higher oil prices spurred sharp swings in currencies, reignited price pressures and a return to hawkish central banking across Asia. Investor bets of a Fed rate cut have been pushed back to later this year, if not next year.

 

[k1976]

For now, Singapore’s policymakers affirmed their estimate for core and headline inflation to average 2.5 per cent-3.5 per cent this year, saying “in the absence of major fresh shocks to costs, the disinflation trend should reassert itself.”

The central bank kept its monetary policy tight earlier this month, wary of still-elevated price pressures.

 

[k1976]

Barring further shocks, MAS assesses that the prevailing rate of appreciation of the policy band is needed to keep a restraining effect on imported inflation as well as domestic cost pressures, and is sufficient to ensure medium-term price stability.”


Singapore’s economy expanded slower than forecast in the first quarter as the spending boost from tourism and concerts failed to offset the slump in manufacturing

 

[k1976]

That underlines the government’s concerns, with Wong warning in his February budget speech that the city state cannot afford a protracted period of slow growth lest it start eroding living standards.

 

[k1976]

https://www.businesstimes.com.sg/si...ut-reverses-negative-territory-march-down-9-2

Singapore factory output reverses into negative territory in March, down 9.2%​

The reading falls below private sector economists’ expectations of a 1.5% contraction

Paige Lim​

Published Fri, Apr 26, 2024 · 01:00 PM


SINGAPORE’S industrial production contracted 9.2 per cent year on year in March, dragged down by double-digit declines in the electronics and volatile biomedical clusters, data from the Singapore Economic Development Board (EDB) showed on Friday (Apr 26).

The reading came in below private sector economists’ expectations of a 1.5 per cent contraction, as indicated in a Bloomberg poll. This was also a reversal from February’s revised figure of a 4.4 per cent growth.

Excluding the volatile biomedical manufacturing cluster, factory output fell 5.9 per cent year on year.

 

[k1976]

Factory output in the key electronics cluster declined 11.3 per cent from the year-ago period, reversing from February’s 3.9 per cent year-on-year growth.

While the infocomms and consumer electronics segment recorded gains of 18.8 per cent for the month, the computer peripherals and data storage, as well as semiconductors segments, contracted 4.5 per cent and 14.4 per cent respectively.

The biomedical manufacturing cluster registered a steep 34.3 per cent decline in March. The medical technology segment fell 5.3 per cent due to lower exports of medical devices, while the pharmaceuticals segment decreased 54.1 per cent, on account of a different mix of active pharmaceutical ingredients being produced compared to a year ago.

 

[k1976]

 

[k1976]

In transport engineering, the aerospace and marine and offshore engineering segments declined 7.8 per cent and 15.3 per cent respectively. This fall in the latter was due to a lower level of activity in the shipyards as a result of lower project milestones being met, on top of weaker production in oil and gas field equipment.

Production in the remaining clusters grew year on year in March:

• Chemicals (4.2 per cent)
• Precision engineering (3.2 per cent)

All segments in the chemicals cluster recorded gains in March, with the exception of the other chemicals segment, which declined 17.6 per cent on account of lower output in fragrances.

The petrochemicals segment expanded 17 per cent on the back of a low production base last year, due to plant maintenance shutdowns. The specialities and petroleum segments grew 5.4 per cent and 2.1 per cent respectively, with the latter recording higher production of jet fuel.

On a seasonally adjusted, monthly basis, manufacturing output declined 16 per cent in March, reversing from February’s revised 14.6 per cent growth. Excluding biomedical manufacturing, production slipped 8.7 per cent on the month, seasonally adjusted, reversing from the 10.4 per cent growth recorded in the previous month.

 

[k1976]

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Markets

Singapore Home Price Rises Slow, Rents Fall as Market Cools​

• Slowing economy may weigh on prices in coming months
• Rents remain high despite second quarter of declines

By Low De Wei
April 26, 2024 at 8:40 AM GMT+8
Updated on
April 26, 2024 at 1:04 PM GMT+8

Singapore home prices grew at a slower pace last quarter and rents fell, as the city-state’s property boom began to lose steam.

Prices for private residences rose 1.4% from the previous three months, according to final figures released by the Urban Redevelopment Authority on Friday. That compares with a preliminary estimate of 1.5% and a 2.8% increase in the last quarter of 2023.

 

[millim6868]

Son worry papigs still get big bonuses, if not bonuses for them 70% will be not song,lol

 

[syed putra]

We see all these growth numbers but it was a lot more comfortable in the old days and less hectic.

 

[batman1]

All good news on the ground, GE is coming very soon.

 

[Willamshakespear]

At times those charts may seem confusing to the ordinary layman who is more concern about bread & butter issues, to put food on the table for oneself & loved ones, and it seems that the trickle down effect is not seemingly evident even as it does exists to those whom had been specifically taught, trained & experienced on such data.

Ultimately, for the ordinary laymen, the basic principle data sets that they should look at are - unemployment rate & inflation rate, as such are close to one's heart.

As long as both are kept below 4%+-. every citizen would be living at the least a measurable sustainable life & contribution to the economy for social expenditure to uplift others left behind, REGARDLESS of the type of jobs they do so long as it is an honest living to put food on the table for oneself & loved ones. Love is the greatest compulsion to live & love....

And it is such that our ELECTED govt & civil service are burning midnight oil every day & night to lead & governance of our country, no mean task in a troubled world we live in today as well as some whom are fully capable of work but are hell bent on societal crutches or to cheat others....

It will be love, determination, hope, hardwork, intelligence & courage that will see us rise eventually as good times do not last, but so too bad times...

All the best...

 

[k1976]

All good news on the ground, GE is coming very soon.

U see Boss John jin busy, u know liao

 

[k1976]

At times those charts may seem confusing to the ordinary layman who is more concern about bread & butter issues, to put food on the table for oneself & loved ones, and it seems that the trickle down effect is not seemingly evident even as it does exists to those whom had been specifically taught, trained & experienced on such data.

Ultimately, for the ordinary laymen, the basic principle data sets that they should look at are - employment rate & inflation rate, as such are close to one's heart.

As long as both are kept below 4%+-. every citizen would be living at the least a measurable sustainable life & contribution to the economy for social expenditure to uplift others left behind, REGARDLESS of the type of jobs they do so long as it is an honest living to put food on the table for oneself & loved ones. Love is the greatest compulsion to live & love....

And it is such that our ELECTED govt & civil service are burning midnight oil every day & night to lead & governance of our country, no mean task in a troubled world we live in today as well as some whom are fully capable of work but are hell bent on societal crutches or to cheat others....

It will be love, determination, hope, hardwork, intelligence & courage that will see us rise eventually as good times do not last, but so too bad times...

All the best...

Brp , act cheerie layman only look at 2 set of numbers - TOTO n 4D on weekends