(Repeats item ahead of data)
* WHAT: Singapore's final GDP data for Q3 2010
* WHEN: Thursday, Nov 18, 0000 GMT
* REUTERS FORECAST: -17.0 pct QoQ SAAR, +11.0 pct Y/Y (PCT) MEDIAN RANGE PRELIM DATA Q2 NO OF
FORECASTS GDP QoQ SAAR -17.0 -18.5/-12.2 -19.8 +27.3 13 GDP Y/Y +11.0 +10.5/+12.7 +10.3 +19.6 13
FACTORS TO WATCH:
- The final reading of Singapore's third quarter gross domestic product is expected to be slightly higher than earlier estimates on Oct. 14, which showed record fall of 19.8 percent on an annualised, seasonally adjusted basis, and a 10.3 percent rise from a year earlier.
- Better-than-expected industrial production growth and strong tourist arrivals in September are expected to contribute to a better reading, analysts said.
- The government may discuss at a briefing on Thursday outlook for the rest of 2010 and 2011 but any revisions are unlikely, they said.
MARKET IMPACT:
- The Singapore dollar may strengthen slightly if the data is much stronger than the preliminary estimates and it could give a further boost to local stocks.
- The data is unlikely to have any impact on monetary policy, given the next review is in April.
- The local dollar has risen 8.2 percent so far this year against the U.S. dollar while the stock index has risen 11 percent so far this year.
- In October, Singapore widened the trading band for the Singapore dollar for the first time since just after the 9/11 attacks on the United States, underlining the depth of its concern about financial markets.
BANKS/RESEARCH HOUSE QoQSAAR YoY
ACTION ECONOMICS -18.5 +10.8
OSK/DMG -18.0 +10.5
DBS -18.0 +10.8
CIMB -17.8 11.0
NOMURA -17.4 +11.0
CAPITAL ECONOMICS -17.4 +11.1
OCBC -17.0 +11.5
UOB -17.0 +11.0
CITI -15.4 +10.9
BARCLAYS -15.4 +10.9
ING -12.6 +12.7
CREDIT SUISSE -12.6 +11.8
FORECAST -12.2 +12.0
MEDIAN -17.0 +11.0
GOVT ADVANCE DATA ON OCT 14 -19.8 +10.3
To track Singapore economic data, click
(Reporting by Nopporn Wong-Anan; Editing by Kazunori Takada) Keywords: SINGAPORE ECONOMY/GDP (nopporn.wong-anan@thomsonreuters.com; +65 6403 5665; Reuters Messaging: nopporn.wong-anan.reuters.com@reuters.net) (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* WHAT: Singapore's final GDP data for Q3 2010
* WHEN: Thursday, Nov 18, 0000 GMT
* REUTERS FORECAST: -17.0 pct QoQ SAAR, +11.0 pct Y/Y (PCT) MEDIAN RANGE PRELIM DATA Q2 NO OF
FORECASTS GDP QoQ SAAR -17.0 -18.5/-12.2 -19.8 +27.3 13 GDP Y/Y +11.0 +10.5/+12.7 +10.3 +19.6 13
FACTORS TO WATCH:
- The final reading of Singapore's third quarter gross domestic product is expected to be slightly higher than earlier estimates on Oct. 14, which showed record fall of 19.8 percent on an annualised, seasonally adjusted basis, and a 10.3 percent rise from a year earlier.
- Better-than-expected industrial production growth and strong tourist arrivals in September are expected to contribute to a better reading, analysts said.
- The government may discuss at a briefing on Thursday outlook for the rest of 2010 and 2011 but any revisions are unlikely, they said.
MARKET IMPACT:
- The Singapore dollar may strengthen slightly if the data is much stronger than the preliminary estimates and it could give a further boost to local stocks.
- The data is unlikely to have any impact on monetary policy, given the next review is in April.
- The local dollar has risen 8.2 percent so far this year against the U.S. dollar while the stock index has risen 11 percent so far this year.
- In October, Singapore widened the trading band for the Singapore dollar for the first time since just after the 9/11 attacks on the United States, underlining the depth of its concern about financial markets.
BANKS/RESEARCH HOUSE QoQSAAR YoY
ACTION ECONOMICS -18.5 +10.8
OSK/DMG -18.0 +10.5
DBS -18.0 +10.8
CIMB -17.8 11.0
NOMURA -17.4 +11.0
CAPITAL ECONOMICS -17.4 +11.1
OCBC -17.0 +11.5
UOB -17.0 +11.0
CITI -15.4 +10.9
BARCLAYS -15.4 +10.9
ING -12.6 +12.7
CREDIT SUISSE -12.6 +11.8
FORECAST -12.2 +12.0
MEDIAN -17.0 +11.0
GOVT ADVANCE DATA ON OCT 14 -19.8 +10.3
To track Singapore economic data, click
(Reporting by Nopporn Wong-Anan; Editing by Kazunori Takada) Keywords: SINGAPORE ECONOMY/GDP (nopporn.wong-anan@thomsonreuters.com; +65 6403 5665; Reuters Messaging: nopporn.wong-anan.reuters.com@reuters.net) (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.