Singapore Food and Drink Report Q2 2014

Singapore Food and Drink Report Q2 2014

Published: March 2014
Publisher: Business Monitor International (BMI)
Product ref: 196356
Pages: 105
Format: PDF
Delivery: Immediate download

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BMI View: The Singaporean consumer outlook remains steady as the city-state continues to push for economic momentum. With unemployment low and private consumption stable, the Singapore consumer sector continues to look strong. The Singaporean economy has shown some nascent signs of life lately, with a strong services sector powering real GDP growth to a surprise 5.1% year-on-year performance in Q313. As a result of the economy's better than expected performance, as well as material revisions to H113 figures, we have upgraded our full-year real GDP 2013 forecast to 3.6% from 3.1% previously. That said, we believe that a somewhat middling external demand picture will likely effect a modest slowdown from the current pace of growth in 2014, and therefore retain our 3.2% forecast for the year.

Headline Industry Data (local currency) ¦ 2014 food consumption = +1.9%; compound annual growth rate (CAGR) forecast 2014 to 2018 = +1.7% ¦ 2014 alcoholic drink value sales = +7.1%; CAGR forecast 2014 to 2018 = +5.4% ¦ 2014 soft drink value sales = +3.2%; CAGR forecast 2014 to 2018 = +1.9% ¦ 2014 mass grocery retail sales = +2.7%; CAGR forecast 2014 to 2018 = +2.3%

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