SINGAPORE - Private sector economists have sharply lowered their forecast for growth in the Singapore economy this year to 0.6 per cent, from the 2.1 per cent expansion they saw in June, according to the latest quarterly survey of professional forecasters by the Monetary Authority of Singapore released on Wednesday .
They also expect manufacturing to shrink by 2.4 per cent, down from the estimated 0.2 per cent dip in June. Geopolitical risks in places such as Hong Kong and the Persian Gulf were also widely cited as a downside risk.
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