Singapore Likely To See Slower Growth: MAS Survey

Singapore's economy is likely to expand at a slightly slower pace in 2015, the survey of professional forecasters published by Monetary Authority of Singapore revealed Wednesday. 

The city-state economy is projected to grow 2.8 percent in 2015, weaker than the prior estimate of 3.1 percent. The most likely outcome is for the economy to grow between 2 and 2.9 percent this year, the report said. 

In 2014, gross domestic product gained 2.9 percent, which was slightly below the median forecast of 3 percent. 

For the first quarter of 2015, economists expect growth of 2 percent instead of 2.5 percent. The economy is forecast to grow 3.1 percent in 2016. 

The survey respondents forecast inflation to come in at 0.1 percent versus 1.1 percent reported in the December survey. Likewise, core inflation is seen at 1 percent, down from the prior estimate of 1.9 percent.