Robust 1Q GDP growth estimates expected next week

SINGAPORE (April 7): Maybank Kim Eng is anticipating robust gross domestic product (GDP) growth estimates to register at over 2.8% y-o-y, prior to the 1Q17 GDP flash estimate announcement schedule for release next Thursday on April 13.

In a Friday report, analysts Chua Hak Bin and Lee Ju Ye say may upgrade their forecast even further should growth prove to surprise on the upside, especially since Singapore is currently benefiting from a synchronised global recovery given the city state’s openness to trade and financial flows.

“Ministry of Trade and Industry (MTI) will likely maintain the GDP growth forecasts at 1-3% with a positive outlook. We think the risk is biased towards a growth upgrade later in the year,” they add.

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