These 2 indicators suggest little prospect for a significant economic recovery

BMI Research sees Singapore economy to come in at a middling 2.3%.

According to recent report by BI Research, it sees little prospect for a significant recovery in Singapore's export growth over the coming year amid poor external demand conditions and ongoing domestic structural difficulties.

In line with its expectations for lacklustre real export growth in 2016 (2.2%), it has downgraded it 2015 real GDP forecast to 2.3%, from 2.5% previously.

That said, it retains its view that Singapore's underlying economic fundamentals will remain robust as characterised by a healthy labour market and robust real wage growth.

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