GDP improvement "not sustainable", warns StanChart

The March effect may be a one-off event.

The stronger-than-expected expansion in Singapore first-quarter GDP is "not sustainable", a report by Standard Chartered said.

StanChart analyst Jeff Ng noted that the pickup in growth was mainly due to a robust improvement in March, which might be "a one-off event".

Domestic growth improved in Q1, but we think the improvement is not sustainable. Growth was upwardly revised by stronger manufacturing and services growth in March, [but] the positive contribution from net exports is likely to fade," he said.

"We think upside to growth is also limited by an economy already operating at full capacity," he added.

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