Data has shown that economic growth slowed down a bit in the third quarter due to a growth in the manufacturing and services sectors that was weaker than previously estimated by experts. However, it is worth noting that the contraction in the construction sector was not as much as initially announced. The PMI data for the fourth quarter so far based on the figures for October and November shows a further softening in the manufacturing sector with new orders and employment moving closer to negative territory. The electronics sector also contracted in November. There were however some positives in the third quarter with non-domestic export witnessing some growth in October thanks to the volatility in the pharmaceutical subsector.
Singapore has also had her fair share of political gimmicks with the tension with Malaysia escalating as a result of maritime boundaries. However, experts have stated that the dispute will have little or no economic impact on both nations, particularly as mutual economic interests will prevent the disagreement from escalating any further.
Singapore Economic Growth
Experts have forecasted a slow annual economic growth in 2019. However, the growth has been predicted to remain robust due to a formidable service sector and higher wage pressures that will lead to a shift in local demand. However, depressed Chinese import demand and a trade protectionism policy might weigh on exports and investment. Residential investment has also been predicted to remain weak in the New Year.
According to panelists from FocusEconomics, the Singaporean economy is expected to grow by over 2.5% in 2019, an unchanged figure from the estimate given earlier, while the growth of 2.4% is expected in 2020.
More economic news and other related information about Singapore and the economic situation in Asia, as well as the services offered by Phillip Private Equity, can be found on their website.
About Phillip Private Equity
Phillip Private Equity is one of the leading private equity firms in Singapore. Formerly known as ECICS Management Pte Ltd, the company offers a wide range of financial services with a focus on providing capital in the form of equity and debt to innovative enterprises across select stages, sectors, and geographies.
The company aims to create businesses with lasting and significant value by closely working with investee companies to accelerate their growth and help them achieve their potential. Phillip Private Equity has a team of fund managers with more than 20 years of experience managing proprietary, in-house and 3rd party funds. The investment objective is to deliver investment returns while safeguarding stakeholders’ interest by protecting against downside risks.
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