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SGD: Singapore’s 4Q15 GDP bounce - ING

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 6, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Delhi) – Prakash Sakpal, Economist at ING, suggests that Singapore’s 4Q15 GDP bounce has set the bar for further MAS easing high.

    Key Quotes

    “The 5.7% QoQ SAAR bounce in GDP in 4Q15 was a big upside surprise (consensus 1.0%). Services remained the main growth driver, covering for persistent weak manufacturing (first figure). A turnaround in construction to a 7% QoQ SAAR growth from 4.9% contraction in 3Q stands out.

    The 2.1% full-year GDP growth was at the low end of the 2-2.5% official target. The government targets 2016 growth at 1-3%, revised recently from 2-4%. We consider 1-3% the new normal for potential GDP growth. The strong 4Q15 performance sets the bar for further MAS easing high.”
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