2015 GDP growth was the weakest since the global financial crisis as manufacturing contracted. It should remain stable in 2016 as services growth balances the weakness in manufacturing and construction—held back by low external demand and higher borrowing costs.
Risks include persistent weakness in the residential property market (which could choke new investment),a tight labor market and declining labor productivity (since 2014).
|Composite Stock Price Index 1||3.0 (Jan17)||2.0||2.0|
|Broad Money Growth 2||7.7 (Dec16)||7.7||7.0|
|Headline Inflation Rate 3||0.2 (Dec16)||0.0||-0.6|
|Industrial/ Manufacturing Production Growth Rate 3||21.3 (Dec16)||11.8||-11.9|
|Merchandise Export Growth 3||7.4 (Dec16)||7.4||8.5|
|Exchange Rate Index 4||87.6 (Jan17)||87.6||88.1|
|1 Monthly average, local index.|
3 y-o-y, %.
4 Monthly average, January 2006 = 100, $/local currency.
|Source: Bloomberg LP; CEIC database; Singapore Economic Development Board; International Entreprise Singapore.|