SINGAPORE (Oct 26): Maybank Kim Eng is raising Singapore’s 2017 GDP growth forecast to 3.4% from 3.2% with final 3Q GDP growth likely to come in at 5.1%, above the government’s earlier flash estimate of 4.6%.

“Our upgrade takes into account stronger 3Q manufacturing as well as better services growth. We think that growth is visibly broadening to services and more domestic-oriented sectors. We also reiterate our view that the Ministry of Trade & Industry will likely upgrade its full year GDP growth to 3.0% to 3.5% from current 2% to 3% when the finalised 3Q GDP is released in mid-Nov,” says lead analyst Chua Hak Bin in a report.

“We maintain our view that MAS will likely normalise policy and shift to a “slight appreciation bias” at the April 2018 meeting.

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