The Singapore economy is expected to grow 0.7 percent in 2019.

Where did this number come from?

Private-sector economists polled in a routine quarterly survey by the Monetary Authority of Singapore (MAS) on Wednesday, Dec. 11.

What was the previous forecast?

The previous survey gave a 0.6 percent growth forecast.

What is the growth forecast for 2020?

For 2020, they expect GDP growth to rise to 1.5 percent.

What's with the end-of-year optimism?

The Singapore economy actually grew by 0.5 percent in the third quarter, providing a glimmer of hope that not everything is terrible.

This is higher than the 0.3 percent projected by respondents three months ago.

What other prediction was off the mark?

The previous prediction that the manufacturing sector will contract 2.4 percent was off the mark, as it is likely to shrink by 1.4 percent only.

What sectors might do worse?

The wholesale and retail trade sector is expected to contract 3 percent.

What sectors will do better?

The finance and insurance industry is expected to grow 4.1 percent, but still a decline from the 4.3 percent growth predicted previously.

The construction sector is expected to expand by 2.8 percent, up from the 2.7 percent growth prediction.

The accommodation and food services sector will see more than double growth to 1.9 percent compared to the previous survey.

Why is the survey carried out?

This December survey is based on responses from 22 economists and analysts, and does not represent MAS’ views and forecasts.

It is to provide a general sentiment of the outlook of the economy, without it being official.

What are some of the top concerns for the Singapore economy?

Topping the list of downside risks for the majority of the respondents is further escalation of U.S.-China trade tensions.

Another source of downside risks is the “sharper-than-expected” slowdown in China’s economic growth.

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