Economists again trim forecast for Singapore’s 2019 growth pace

SINGAPORE (Reuters) – Economists have downgraded the outlook for Singapore’s 2019 growth rate for the second time in three months, a quarterly poll released by its central bank on Wednesday showed.

The economists expect Singapore – seen as a bellwether for the global economy because its exports equate to around 200 percent of its output – to have growth of 2.6 percent in 2019, compared with an estimated 3.3 percent this year.

The latest 2019 projection is lower than the 2.7 percent seen in the September report and the 2.8 percent that the poll released in June showed.

Singapore’s trade ministry forecasts 2019’s GDP growth at between 1.5 to 3.5 percent.

All of the 23 economists surveyed in the December report cited U.S.-China trade tensions as a risk for Singapore, up from 89 percent of respondents in September’s report.

Some economists also cited higher interest rates and a slowdown in the world’s second biggest economy China as risks.

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