Economists expect faster economic growth in Singapore

A survey conducted by the Monetary Authority of Singapore has found that economists and analysts in the private sector expected the Singapore's economy to grow by 6.2 percent this year, up from the 5.7 percent in the previous survey.

The results of the survey released on Wednesday followed a stronger-than-expected growth of 8.3 percent in the first quarter.

In the latest survey, the manufacturing sector is expected to grow 8.8 percent, up from 5.9 percent in the previous forecast, and the financial services sector is also forecast to grow by a higher 8.8 percent, compared with 7.4 percent in the previous survey.

The construction sector growth forecast was down from 4.1 percent to 3.5 percent.

The expected an inflation of 4.1 percent for the full year, while unemployment should remain at 2 percent by the year end.

The economic growth forecast for the second quarter is 2 percent, lower than the previous forecast of 3.4 percent.

The survey also found that the economists expect a growth of 5. 5 percent for 2012, with inflation at 2.5 percent.

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