(Reuters file photo)SINGAPORE: The U.S.-China trade war and weaker global demand are clouding the outlook for Singapore’s export-reliant economy, which posted still solid growth in the first quarter. It cited the US-China trade war, weaker Chinese growth and uncertainty around the UK’s exit from the European Union as the main global risks weighing on Singapore’s outlook. The growth outlook “is thus a conservative stance to take in light of the lack of clarity” around US-China trade tensions and Brexit. As a result, GDP growth for 2018 was revised to 3.1% from 3.2%. The Monetary Authority of Singapore, which uses the exchange rate as its main tool, left its policy stance unchanged in April.

Source: Bangkok Post May 21, 2019 03:44 UTC