Chart of the day: Professional forecasters predict 4.8% economic growth in Q2

They expect GDP to expand by 3.8% by the end of 2022.

This chart from the Monetary Authority of Singapore’s (MAS) Survey of Professional Forecasters shows the economic growth median forecast of 26 economists and analysts who closely monitor the Singapore economy compared to the actual result.

MAS said that in the first quarter of 2022 the economy expanded by 3.7% year-on-year. This was in line with the respondents’ median forecast in the previous survey. In the current survey, respondents expect the economy to grow by 4.8% in the second quarter of 2022.

Meanwhile, the respondents expect the gross domestic product to expand by 3.8% in 2022, down from 4% in the previous survey. 

“As reflected in the mean probability distribution, the most likely outcome is for the Singapore economy to grow by 3% to 3.9% this year, with an average probability of 43.6%,” MAS said.