Singapore official says trade tariffs could renew inflationary pressures disrupt easing

November 22, 2024
-FCHFX

November 22, 2024 at 12:51AM
A trade official in Singapore with the comments:

Global economic uncertainties have increased, including over policies of the incoming U.S. administration.

Singapore electronics cluster projected to continue to expand, supported by strong global semiconductor demand.

Trade tariffs could renew inflationary pressures, which could disrupt the pace of monetary easing.

Not ruling out that GDP growth could exceed 3.5% in 2024

Data from earlier:

Singapore Q3 GDP +5.4% y/y (expected +4.6%, preliminary 4.1%)

In the wake of the figures the Ministry of Trade and Industry upgraded Singapore’s 2024 GDP growth forecast to around 3.5% from 2.0%-3.0% previously.

It has also forecast Singapore’s 2025 GDP growth at 1.0%-3.0%.

This article was written by Eamonn Sheridan at www.forexlive.com.

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